Digital Custodian Anchorage Introduces XRP Storage for Institutions

Digital custody provider Anchorage has introduced custodial support for XRP, the company announced in an April 2 blog post.

XRP is the third-largest cryptocurrency by market cap, and is best known as the crypto designed by Ripple specifically for cross-border payments. Before April 2, XRP was the only top-three cryptocurrency not supported by Anchorage, which offers services specifically to institutional investors.

Diogo Monica, president of Anchorage, stated:

“As the third-largest digital asset by market cap, XRP appeals to a number of our institutional clients, which include VC funds, family offices, hedge funds, and other large-scale crypto investors.”

In a press release, Anchorage also stated that “an ecosystem of institutions” are already decided to hold XRP which prompted them to seek more secure and usable institutional and custody provider. The company also hints that it is going to include additional services for XRP such as Payment Channels.

XRP joins 18 other digital assets already supported by Anchorage. Monica stated that Anchorage is ready to provide custodial service for digital assets of any kind if customer demand arises.

Monica also added that, as XRP meets all the company’s standards, it is proud to expand its list of assets with the cryptocurrency:

“Anchorage has always aimed to support every asset that meets our standards of quality and security, and XRP does both. Particularly during these uncertain times, we’re proud to be growing our list of supported assets and improving operational efficiency for our institutional clients.”