Anchorage Digital Announces Custody Support for Leading Bitcoin L2 Stacks, Bringing Institutional Engagement to Bitcoin
Anchorage Digital, home to the only federally chartered digital asset bank in the US, has announced its custody support for Stacks, a leading Bitcoin Layer 2 solution. Stacks is the first Bitcoin L2 supported by Anchorage Digital, marking a significant step for institutional involvement in the Bitcoin ecosystem.
Institutions can now securely custody the Stacks token (STX) on the Anchorage Digital platform via Anchorage Digital Bank N.A. The new partnership is helping Bitcoin holders to access capital, while safeguarding their holdings with industry-leading security and regulatory certainty at Anchorage Digital.
Institutions can now securely custody the Stacks token (STX) on the Anchorage Digital platform via Anchorage Digital Bank N.A. The new partnership is helping Bitcoin holders to access capital, while safeguarding their holdings with industry-leading security and regulatory certainty at Anchorage Digital.
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Layer 2s like Stacks are advancing a new vision for the Bitcoin ecosystem—and institutions are taking notice. As the crypto ecosystem continues to expand, we are committed to providing safe, secure, and regulated access to innovative networks like Stacks. We’re pleased to offer access to qualified custody for Stacks via Anchorage Digital Bank N.A.
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Anchorage Digital and Stacks are deeply aligned on the idea that the new digital asset economy should be both accessible and safe. While we’ve approached making that a reality in dramatically different ways, we have found an intersection that enables institutions to do more with their Bitcoin.
Anchorage Digital’s support for Stacks comes at a time of increasing demand for Bitcoin Layer 2 solutions. Layer 2s are critical for enhancing the scalability of the Bitcoin network, enabling faster and more cost-effective transactions while expanding the network's utility. As Bitcoin becomes fully programmable, new use cases will unlock latent capital estimated at around $800 billion.
Market participants, including leading institutions, recognize the opportunity presented by Bitcoin L2s. In Q1 of this year, Bitcoin L2s received $34.5 million, accounting for 19.7% of all L2 investments. This dramatically increased to $94.6 million in Q2, representing 42.4% of L2 investments, representing 174% quarter-over-quarter growth, according to a recent report from Galaxy Digital.
If you are interested in learning more about accessing Stacks from the safety and security of the Anchorage Digital platform, please get in touch.
Market participants, including leading institutions, recognize the opportunity presented by Bitcoin L2s. In Q1 of this year, Bitcoin L2s received $34.5 million, accounting for 19.7% of all L2 investments. This dramatically increased to $94.6 million in Q2, representing 42.4% of L2 investments, representing 174% quarter-over-quarter growth, according to a recent report from Galaxy Digital.
If you are interested in learning more about accessing Stacks from the safety and security of the Anchorage Digital platform, please get in touch.