• Licensed digital assets platform Oasis Pro Markets announced that it had partnered with Anchorage for Custody and Settlement
  • Anchorage Digital has been reported to be nearing a deal with the FDIC to help it custody digital assets

One of the few exchanges to have an Alternative Trading System (ATS) license announced today a partnership with digital asset bank Anchorage for on-chain custody and settlement.

“Anchorage has been a true partner in helping us realize our goal of streamlining the trading experience for institutional investors looking to access secondary market liquidity for digital securities,” said Pat LaVecchia, CEO of Oasis Pro Markets in a release. “Anchorage’s superior settlement and custody technologies stand out in the market, as they provide the controls for selecting digital assets, reaffirming our commitment to remain agile to technological and regulatory developments to grow the ecosystem and create a dynamic marketplace.”

Oasis Pro Markets says its trading platform will offer equity, fixed income, and asset-backed securities when it launches. The company says it will first launch on the Ethereum blockchain and will support other blockchain protocols soon after.

Digital asset bank Anchorage has been reported to be close to signing a deal with the FDIC to be a cryptocurrency custodian for the institution. As more and more banks begin to adopt digital assets, the FDIC needs infrastructure in place to custody and store these assets should it need to step in during a bank failure. This also shows how established Anchorage, with its charter, has become within the broader financial industry. 

When it launches, Oasis Pro Markets will be an institutional and accredited focused exchange. ATS platforms are licensed by the SEC in dealing with securities and are members of FINRA, a self-regulatory organization for the broker-dealer industry. 

Coinbase is not registered with the SEC as an ATS platform and the problems with this arrangement are beginning to show. Recently, SEC chair Gary Gensler took aim at Coinbase during testimony before the Senate Banking Committee saying it lists “dozens of tokens that might be securities.”

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  • Blockworks
    Sam Reynolds is a Taipei-based reporter, covering digital assets and regulation throughout Asia. Before joining Blockworks he was an editor at Forkast News and an analyst with IDC.