Anchorage Digital Expands Institutional Custody to Include Hedera's HBAR Token

Anchorage Digital, a federally chartered digital asset bank, has announced the expansion of its institutional custody services to include Hedera's native cryptocurrency, HBAR. This move is set to deepen institutional access to the Hedera network, providing a regulated and secure pathway for financial entities to hold the digital asset. The announcement was made by Anchorage Digital via a social media post.

"Anchorage Digital is deepening institutional access to @Hedera. Now available: custody support for $HBAR," the company stated in its tweet.

As a regulated custodian, Anchorage Digital plays a critical role in bridging traditional finance with the digital asset ecosystem. The company, which holds a federal bank charter from the Office of the Comptroller of the Currency (OCC), offers institutional-grade security and compliance, crucial for attracting large-scale investors into the crypto market. This new offering aligns with Anchorage Digital's mission to provide secure infrastructure for evolving digital asset landscapes.

Hedera Hashgraph is an enterprise-grade distributed ledger technology (DLT) platform, recognized for its high transaction throughput, low fees, and robust security features, utilizing the hashgraph consensus algorithm. Its native token, HBAR, is used for network fees, payments, and securing the network through its proof-of-stake mechanism. Hedera has been gaining traction for various enterprise use cases, including tokenization and decentralized applications.

The addition of HBAR to Anchorage Digital's custody platform reflects a growing trend of institutional demand for diverse digital assets. With increasing regulatory clarity and the maturation of the crypto market, secure custody solutions are paramount for institutions seeking exposure to cryptocurrencies beyond Bitcoin and Ethereum. This development could facilitate greater adoption and liquidity for the HBAR token within the institutional investment community.