- Binance added Anchorage Digital as a triparty banking provider for institutional crypto trading.
- Eligible clients can trade on Binance while retaining independent custody through Anchorage’s Atlas platform.
- The partnership expands institutional access to collateral management and custody-separated trading infrastructure.
Binance has expanded its institutional trading infrastructure through a partnership with Anchorage Digital, adding the crypto bank as a new triparty banking provider. Announced on June 30, the integration allows eligible institutional and professional clients to trade on Binance while keeping assets in segregated custody with Anchorage Digital, addressing a key requirement many institutions have sought in digital asset markets.
Custody And Trading Remain Separate
According to Binance, the partnership brings Anchorage Digital into its Triparty Banking network through Anchorage’s Atlas settlement platform. The arrangement enables institutions to access Binance liquidity without transferring custody of assets to the exchange.
As part of the model, clients can maintain independent custody while using pledged assets as trading collateral. According to Binance, institutions may also pledge yield-bearing U.S. dollar accounts alongside crypto holdings.
The structure reflects a market framework widely used in traditional finance. There, custody and trade execution typically remain separate functions managed by different entities.
Richard Teng, CEO of Binance, said institutional crypto trading continues moving toward a structure that traditional financial markets have used for decades.
Atlas Integration Expands Settlement Options
The partnership also marks the first crypto exchange integration within Anchorage Digital’s Atlas settlement platform. Consequently, eligible clients gain another option for managing collateral, settlement, and exchange access.
According to Binance, Triparty Banking supports more than trading activity. The service also covers collateral management, lending, settlement, and broader capital markets operations. Furthermore, institutions can use a range of collateral types, subject to eligibility requirements.
These include cash, cash equivalents, crypto assets, and certain tokenized real-world assets. Examples listed by Binance include BlackRock’s BUIDL, Circle’s USYC, and Franklin Templeton’s iBENJI products.
Institutions Seek Familiar Market Structure
The latest expansion follows Binance’s initial triparty banking pilot launched in 2023. Since then, the exchange has continued adding banking and settlement partners.
Nathan McCauley, co-founder and CEO of Anchorage Digital, said institutions increasingly expect crypto market infrastructure to match traditional financial standards.
According to Binance Head of VIP and Institutional Catherine Chen, the integration gives clients another route to access exchange liquidity while maintaining custody through a structure familiar to institutional markets.
The partnership adds another custody-separated option as institutional participation in digital asset trading continues to expand.
