Anchorage Digital Prime Powers the State Street Galaxy Onchain Liquidity Sweep

TL;DR: Anchorage Digital Prime handles subscriptions, redemptions, custody, and Atlas settlement for the State Street Galaxy Onchain Liquidity Sweep. Margin financing against the SWEEP position is coming next.

Tokenized funds need an institutional operating layer

A tokenized money market fund is only useful to institutions if the surrounding infrastructure keeps pace. Most tokenization efforts stop at the asset itself. The token gets issued, custodied, and reported on. The operational rails around it (financing, settlement, integrated trading) are what make the position usable at scale. 

Anchorage Digital Prime delivers the operational rails for the State Street Galaxy Onchain Liquidity Sweep.

What Anchorage Digital Prime does for SWEEP

Subscriptions and redemptions
Anchorage Digital Prime helps the State Street Galaxy Onchain Liquidity Sweep scale by handling on-chain stablecoin subscriptions and redemptions. Stablecoin routing across supported assets runs through Prime, giving institutional allocators a regulated path into and out of the fund.

Collateral for margin financing (forthcoming)
Anchorage Digital Prime is building margin financing collateralized by tokenized reserve assets, including SWEEP. Eligible institutions will be able to access working capital against their SWEEP position without redeeming the fund. Availability will be limited to institutions meeting eligibility requirements, including qualification as an Eligible Contract Participant.

Custody for reward generation
Institutions custodying SWEEP at Anchorage Digital Bank N.A. hold a reward-generating reserve asset alongside their spot crypto, derivatives, and other holdings under one institutional relationship. Cash that would otherwise sit in non-reward-generating accounts can be held as SWEEP.

Settlement across Atlas
SWEEP transactions between institutional counterparties run through our Atlas Settlement Network within the OCC-regulated perimeter of Anchorage Digital Bank. This helps reduce counterparty exposure and operational complexity.

What this means

Anchorage Digital Prime is built to be the institutional operating layer for tokenized products, particularly the ones brought to market by leading traditional asset managers. To learn more about Anchorage Digital Prime, please get in touch.

Disclosures

"Anchorage Digital Prime" is a trade name for a suite of digital asset products and services. It does not refer to any one specific legal entity. All services are provided by one or more of the specific Anchorage Digital entities. Custody, settlement, staking, and governance services are offered through Anchorage Digital Bank National Association ("Anchorage Digital Bank"). Digital asset trading services are provided by Anchorage Hold LLC. Agency trading services are offered in New York by Anchorage Digital NY, LLC. BitLicense #0000041. A1 Ltd. is a principal trading business. Anchorage Services, LLC is an NFA-registered introducing broker, NFA ID No. 0532710.

Anchorage Digital Bank, Anchorage Hold, and Anchorage Services are not registered with the SEC or any state authority as a broker or dealer and are not authorized to engage in the business of the offer, sale, or trading of securities.

This Stablecoin Rewards Program (the "Program") is offered by an entity separate from Anchorage Digital Bank, NA.  Stablecoins must be held with custody or wallet platforms offered by Anchorage Digital Bank National Association, Anchorage Digital Singapore Pte, Ltd., or Anchorage Innovations, LLC, in order to be eligible for rewards. This program is not offered by any of the aforementioned custody or wallet service providers. Please refer to the Stablecoin Rewards Program Terms & Conditions for all applicable terms and risks. By participating in the Program, participants acknowledge that they have read, understood, and agreed to be bound by this disclaimer and any other terms and conditions governing the Program. Information in this document is for general educational purposes only and eligibility limitations apply. This document is not intended to constitute an offer, solicitation, recommendation, investment, or any other advice on financial products. Availability is subject to jurisdictional limitations.

The Program is not subject to regulatory oversight in any jurisdiction. Participants in the Program acknowledge and understand that the Program is not regulated by any governmental authority. As such, there are no guarantees regarding the stability, security, or reliability of the Program. Participation in the Program carries inherent risks, including but not limited to the risk of loss of funds, lack of recourse in case of disputes, and potential volatility of a stablecoin's value. Participants are responsible for understanding and complying with all applicable laws, regulations, and requirements in their respective jurisdictions regarding the use, possession, and transfer of digital assets, including stablecoins. Nothing in the Program constitutes investment advice, financial advice, or any other form of professional advice. Participants should conduct their own research and seek appropriate professional advice before participating in the Program. Anchorage Digital Neo, Ltd. and its affiliates, officers, directors, employees, agents, and representatives shall not be liable for any losses, damages, liabilities, costs, or expenses arising out of or related to participation in the Program, regardless of the cause of action or legal theory asserted.

Anchorage Digital services are offered to institutions and certain high net worth individuals in limited circumstances. Certain trading services, including the offering of margin and loans, are designed and available only for institutions who meet eligibility requirements, including qualification as an Eligible Contract Participant (ECP) under the rules of the U.S. Commodity Futures Trading Commission, and whose place of business is located in an eligible jurisdiction.

Anchorage Digital is not required to lend or trade with any counterparty and trading may be limited to counterparties from certain states or jurisdictions. This document is for informational purposes only and is subject to the margin agreement between the parties.

Anchorage Digital does not provide legal, tax, or investment advice or private banking services. Holdings of cryptocurrencies and other digital assets are speculative and involve a substantial degree of risk, including the risk of complete loss. Digital assets held in custody are not guaranteed by Anchorage Digital and are not subject to the insurance protections of the Federal Deposit Insurance Corporation (FDIC) or the Securities Investor Protection Corporation (SIPC).