Anchorage Supports Chainlink
Anchorage clients can now custody Chainlink’s governance token (LINK). As more and more of the DeFi landscape relies on off-chain and offline data, solutions like Chainlink will likely only grow in importance. We’re proud to offer our clients the ability to include LINK in their crypto portfolios as an asset that meets our high bar for quality and security.
While smart contracts enable much of what makes the emerging DeFi space exciting, they have their limitations. For a smart contract to access data outside a given blockchain — say, crypto or commodity price feeds — requires some kind of middleware. Up to now, this middleware has often taken the form of a centralized oracle.
The problem is that using a centralized oracle introduces a single point of failure, meaning the entire connection becomes only as secure as the centralized oracle itself. This is not only a hypothetical problem, but one that has already had some real world consequences. To solve it, Chainlink utilizes a decentralized network of oracles, allowing blockchains access to offline and off-chain data without introducing the single points of failure that come with centralization. As Chainlink’s native token, LINK can be used to both stake on the network, and pay fees associated with network use.
At Anchorage, we’re constantly working to support additional assets. If you’d like to learn more about our roadmap and our support for an asset you care about, please get in touch.
About Anchorage Digital
Anchorage Digital is a global crypto platform that enables institutions to participate in digital assets through trading, staking, custody, governance, settlement, stablecoin issuance, and the industry’s leading security infrastructure. Home to Anchorage Digital Bank N.A., the first federally chartered crypto bank in the U.S., Anchorage Digital also serves institutions through Anchorage Digital Singapore, which is licensed by the Monetary Authority of Singapore; Anchorage Digital NY, which holds a BitLicense from the New York Department of Financial Services; and self-custody wallet Porto by Anchorage Digital. The company is funded by leading institutions including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation over $3 billion. Founded in 2017 in San Francisco, California, Anchorage Digital has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. Learn more at anchorage.com, X, YouTube, and LinkedIn.
Press Contacts:
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This post is intended for informational purposes only. It is not to be construed as and does not constitute an offer to sell or a solicitation of an offer to purchase any securities in Anchor Labs, Inc., or any of its subsidiaries, and should not be relied upon to make any investment decisions. Furthermore, nothing within this announcement is intended to provide tax, legal, or investment advice and its contents should not be construed as a recommendation to buy, sell, or hold any security or digital asset or to engage in any transaction therein.
Anchorage Digital Bank National Association offers fiat custody services through the use of an FDIC-insured, licensed sub-custodian.
