A crypto startup has launched a custodial service for institutions that it claims is more secure than cold storage yet offers easier access to assets.

Anchor Labs, which previously raised $17 million in a series A round backed by Andreessen Horowitz, Max Levchin, Khosla Ventures, Blackrock (NYSE:BLK)’s Mark McCombe, Elad Gil and AngelList co-founder Naval Ravikant, announced the launch of Anchorage, a digital asset custodian, on Wednesday.

Anchorage says it can deliver “all the benefits of asset accessibility,” which include capturing the yield from staking a cryptocurrency, voting, confirming proof of existence and faster transactions.

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