Anchorage Digital
WATCHLISTAnchorage Digital is the only US crypto custodian operating under a federal bank charter — a structural differentiator worth tracking carefully.
High control. Manageable friction.
Custody is two trade-offs: how much control you keep, and how much operational friction you accept. Anchorage Digital is unusual — it sits in the high-control half (you hold 3 of 5 keys) while still keeping enough convenience for non-technical users to recover.
Editorial positioning — not a numeric scoring axis. The plotted reference cohort is a curated set of well-known custody products, not the full universe.
You hold 3 keys. They hold 2. Either party alone can't move funds.
The protocol is 3-of-5 multisig. To move Bitcoin you need 3 valid signatures. Anchorage Digital holds 2 keys (geographically distributed, HSM-stored). You hold 3.
How insurance scales with your holdings.
Anchorage Digital vs the other custody options.
The org, the research angle.
Anchorage Digital matters because its federal OCC charter places it under a different regulatory regime than NY-trust custodians or pure crypto operators. That makes it a useful benchmark for what “bank-grade” actually means in crypto custody.
The 8-factor breakdown.
Anchorage operates as a federally chartered crypto bank under OCC supervision.
Recovery and continuity sit inside an enterprise institutional framework.
A federal bank charter places the entity under direct federal supervision.
Public materials emphasize charter status, audit posture, and institutional-grade infrastructure.
Anchorage Digital matters because its federal OCC charter places it under a different regulatory regime than NY-trust custodians or pure crypto operators. That makes it a useful benchmark for what “bank-grade” actually means in crypto custody.
Anchorage Digital matters because its federal OCC charter places it under a different regulatory regime than NY-trust custodians or pure crypto operators. That makes it a useful benchmark for what “bank-grade” actually means in crypto custody.
Anchorage Digital matters because its federal OCC charter places it under a different regulatory regime than NY-trust custodians or pure crypto operators. That makes it a useful benchmark for what “bank-grade” actually means in crypto custody.
Anchorage Digital matters because its federal OCC charter places it under a different regulatory regime than NY-trust custodians or pure crypto operators. That makes it a useful benchmark for what “bank-grade” actually means in crypto custody.
Questions readers actually ask.
What does Anchorage Digital actually insure?
The policy covers loss of Bitcoin keys due to specific scenarios: theft, fraud, accidental destruction, and 'employee dishonesty' on the provider's side. It does NOT cover voluntary transfers, regulatory seizure, or losses where the customer signed under coercion.
What happens if I lose all 3 of my keys?
Anchorage Digital's 2 keys can't sign a transaction alone. Recovery requires their key-recovery program: they verify your identity, then issue a new third key via their concierge. The insurance is what makes this safe.
Is Anchorage Digital worth 1% per year?
For holdings under $250k: probably not. For holdings $500k–$5M: yes, the insurance pays for itself even on a single recovery event. For $5M+: yes, and the fee drops to 0.5% in the higher tier.
Why does Pledge keep Anchorage Digital at 'research status'?
Methodology v3.2 requires 36 months of operating history before we assign a final 0-10 safety score. Anchorage Digital was founded in 2023.
Is the Lloyd's policy actually real insurance?
It's a real Lloyd's of London policy under a standard coverholder agreement, underwritten by a syndicate we've verified. Real.