Anchorage Digital Bank National Association and Onramp Invest, a Securitize firm, have announced an industry-first provision of digital asset block trading for financial advisers.
A significant advancement in equitable pricing and effective execution for RIAs is made possible by the combination of Onramp’s adviser first alternatives access tools with Anchorage Digital’s industry-first crypto block trading system.
As the only federally licensed certified custodian for cryptocurrency with trading through Anchorage Hold, the relationship offers safe, secure, and easy access to digital assets through Anchorage Digital Bank.
The industry-first block trading system, which allows for the execution of massive crypto deals in a single transaction, has the potential to generate considerable efficiency and cost savings for financial advisers and consumers.
Furthermore, this purpose-built system, implemented through Anchorage Digital’s affiliate, Anchorage Hold, helps to limit the market impact of vast crypto trades. The new tool is available to financial advisers utilising Onramp, which serves a community of RIAs with over $40bn in total assets under management.
Nathan McCauley, CEO of Anchorage Digital Bank stated: “For RIAs, safekeeping client crypto with a qualified custodian is nothing less than essential for continued compliance—especially after a recent SEC proposal. As the only OCC-chartered digital asset bank, Anchorage Digital Bank provides the security and regulatory profile RIAs need to access the digital asset economy in a safe and compliant manner. We are proud to work with industry leaders like Onramp to unlock a future where crypto can be part of every portfolio.”
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“This feature was long sought-after by us as an organization because we know what a difference it can make for our advisers. Block trading lets RIAs execute multiple trades across their entire book of clients as a single institutional order. This service maximises efficiency, minimises cost, and offers equitable execution for all clients. This is a big deal, which is the reason, besides strong security, and regulatory standards, that we selected Anchorage Digital Bank. We’re proud to finally be able to offer this feature and help our advisers in a meaningful way, and Anchorage Digital is the perfect partner to bring this cutting-edge feature to our clients,” added Eric Ervin, founder and CEO of Onramp Invest.
Speaking exclusively to PBI, McCauley stated that going forward, the focus will be on giving RIAs the technological tools and regulatory assurance they require to access cryptocurrency in a safe and secure manner. A major objective for the upcoming years is to keep onboarding new RIAs, particularly as demand in the asset class grows.
He continued, “Our partnership features the first-ever crypto block trading feature for RIAs. Bringing crypto block trading to financial advisors sets a new standard for fair pricing and efficient execution in digital asset wealth management.
In addition, Anchorage Digital Bank National Association is the only OCC-chartered digital asset bank. Our unique regulatory status means advisers on the Onramp platform can safely and securely access crypto through federally regulated custody and settlement infrastructure.”