Anchorage Launches Self-Custody Crypto Wallet with Goldman Sachs Support

A revolutionary institutional self-custody wallet called Porto was just unveiled by Anchorage Digital in the X thread on February 26. Its goal is to provide institutions with easy access to web3 features.

In order to tackle the intricate difficulties that institutions have while handling cryptocurrencies, the San Francisco-based custodian came up with the idea for Porto. Through WalletConnect, a ground-breaking protocol that makes connecting to a variety of decentralized apps easy, Anchorage Digital emphasizes how organizations may alter policies and permissions, run Ethereum smart contracts, and interact with decentralized applications.

Empowering On-Chain Engagement

Diogo Mónica and Nathan McCauley, the founders of Anchorage, highlight Porto’s support for more than 200 tokens and its features, which include reward claims, voting, trading, and staking and allow institutions to actively engage in on-chain activity. The platform’s ambitious future, which Mónica and McCauley outlined, calls for integrating multi-network smart contract capabilities for a range of assets, such as Tendermint-based assets and several EVM layer-2 chains.

In contrast to other self-custody options now available, Porto does not use third parties to handle transactions. Rather, it gives organizations the authority to carry out transactions in accordance with cryptographic guidelines. Anchorage highlights that, in contrast to other MPC implementations that would require these connections, its patented procedures do away with the necessity for independent custodian services.

GIC, the sovereign wealth fund of Singapore, Goldman Sachs, Visa, and Andreessen Horowitz (a16z) are just a few of the notable investors on Anchorage Digital’s impressive list since its founding in 2017. As a leader in the crypto custody space, the company’s most recent Series D value of more over $3 billion confirms this.

Anchorage Digital’s latest offering, Porto, further rewrites the rules of institutional custody and opens the door to further institutional participation in the ever-changing web3 world. A testimony to Anchorage Digital’s dedication to empowerment and innovation in the digital asset field, Porto continues to grow as the cryptocurrency ecosystem does.