Anchorage, a digital asset custody platform that is self-described as “advancing institutional participation in the digital asset class,” has just acquired Merkle on top of planning and announcing a new trading service, the company reports via a blog post.
First off is the trading service, which allows institutional investors to trade, buy, and sell cryptocurrencies while taking advantage of the platform’s cryptocurrency trading experts.
On top of this is the acquisition of Merkle Data, which is:
“A leading provider of risk and data solutions for crypto institutions and has earned a reputation for deep knowledge of crypto markets, unparalleled assessment of crypto liquidity, and rigorous asset pricing.”
Merkle Data is Anchorage’s first-ever acquisition. Speaking on the matter is one Louis Baudoin, the CEO of Merkle Data:
“We are joining forces to further our shared mission of serving institutional crypto investors and strengthening the crypto financial system. For the past 18 months, Merkle Data has been building the most advanced risk and data solution on the market, while Anchorage has built the most advanced and user-friendly custody solution. We’ve long admired Anchorage’s team and product, and we couldn’t be more proud to be joining them.”
Of course, the company is working on quite a few other advancements and features to offer its customers. We’ll have to see how this plays out in the future.