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Apollo adopts Anchorage cryptocurrency solution

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Apollo Global Managementa private equity fund with more than $500 billion under management, seeks to Anchorage and its preservation of digital assets.

On Monday, the popular Silicon Valley cryptocurrency custodian announced that it is providing its services to U.S.-based Apollo Global Management.

Anchorage plans to retain “a significant portion of the New York-based asset manager’s digital asset portfolio.”

We were attracted to the idea of working with Anchorage because of its commitment to operating under strict regulatory oversight, its strong focus on security and segregation of client assets, and its ease of use for asset managers to hold digital tokens. As we explore creative ways to apply blockchain technology across Apollo’s business, we look forward to working with Anchorage for the safekeeping of client assets.” commented Adam Eling, Apollo’s director of digital asset operations.

Founded in 2017 in San Francisco and backed by Goldman Sachs among others, Anchorage closed a new $350 million financing round at the end of 2021, bringing its valuation to more than $3 billion. Apollo Global Management participated in its Series D round.

This summer, the cryptocurrency storage has partnered with several leading exchanges and platforms to offer institutional investors access to a myriad of digital assets.

According to Diogo Monica, president of Anchorage, the partnership with Apollo Global Management “will define how institutions work with regulated digital asset banks.”

According to the latest survey by U.S. asset manager Fidelity, the. cryptocurrency remains a concern for 35% of institutional investors.

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