XION, a walletless blockchain that connects Web2 and Web3, revealed that its native token now has asset support thanks to Anchorage Digital, home to the first and only federally chartered cryptocurrency bank. Anchorage Digital serves as a compliance link between conventional finance and the digital asset ecosystem, and this support, along with its status as the first Title II compliant L1, gives institutional asset holders a safe way to custody, stake, and trade XION.
Clients of Anchorage Digital may easily purchase, hold, stake, and manage XION assets with this integration, eliminating the need for conventional exchanges. The integration guarantees adherence to strict regulatory standards while expediting institutional onboarding. Institutional investors now have safe access to new blockchain networks thanks to this. Asset managers, venture capital companies, and ETF providers may now interact with the XION ecosystem while taking use of a safe custodial framework thanks to Anchorage Digital’s infrastructure.
Burnt Banksy, Founder at XION stated:
“Providing secure access to XION from a qualified custodian opens doors for asset managers, venture capital firms, and other institutional participants to engage with the ecosystem. With trusted platforms like Anchorage Digital, the gap between the legacy web and the next generation of blockchain applications is being narrowed.”
Major international businesses including Uber, Amazon Prime, BMW, Lacoste, Marvel Rivals, and The North Face already utilize XION’s blockchain technology. Anchorage Digital guarantees that big, regulated institutional asset holders have access to the blockchain, promoting the widespread use of Web3, while maintaining compliance with regulatory norms by offering institutional-grade custody and asset management services.
Through Anchorage Digital, institutional investors may also directly stake XION, giving them the opportunity to take part in network security and reap returns in a regulated framework. Anchorage Digital’s platform offers a range of treasury management, staking, and liquidity options for asset managers and venture companies wishing to access XION. Institutions may interact with XION in a regulated, safe, and controlled setting by using Anchorage Digital’s infrastructure.
Institutional interest in digital assets is at an all-time high at the moment of the integration. Anchorage Digital broadens its offering to organizations looking to get access to cutting-edge blockchain networks while maintaining its dedication to security and compliance by introducing support for XION.
The goal of XION, the first walletless Layer 1 blockchain, is to enable Web3 for all users. By making cryptocurrency disappear via its Generalized Abstraction, it simplifies complicated issues like private keys, wallets, multi-device use, gas costs, and more. XION speeds up the widespread adoption of Web3 by lowering typical Web3 friction points and increasing user and developer accessibility to blockchain technology.
Go here to XION’s blog to find out more about the integration.
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