Anchorage to offer support for Cosmos
- This venture means that Anchorage clients will be able to take part in securing the Cosmos network by ATOM staking.
- Anchorage claims that it’s the first institutional custodian to allow Cosmos staking.
Anchorage has recently announced that it will be supporting ATOM, the native coin of the Cosmos blockchain network. Anchorage is a firm that holds cryptocurrencies for institutional investors. As Cosmos is a proof-of-stake network, investors holding ATOM can take advantage of staking rewards. Through Anchorage’s new crypto brokerage service - Anchorage Trading - investors can also trade ATOM. Chjango Unchained, Head of Community at Cosmos and Tendermint, said about the collaboration:
Anchorage’s support for ATOM custody means Anchorage clients will be able to take part in securing the Cosmos Network through ATOM staking. We’re excited to open the floodgates of user adoption through service providers like Anchorage.
Anchorage, which is also a member of the Facebook-led Libra Association, claimed that it’s the first institutional custodian to allow Cosmos staking. They tweeted:
"As crypto continues to move forward, custodians should adapt to protocol requirements, not the other way around." - @diogomonica announcing @Anchorage support for @cosmos ATOM. Custody and trading now live, staking coming soon.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
