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Seeking Alpha 2021-01-13 20:21:25

Feds approve first ever digital bank

South Dakota-based Anchorage Digital Bank National Association has won conditional approval from the OCC for a national trust charter, making it the first ever federally chartered digital asset bank.Anchorage notes we currently have fintech companies able to handle digital assets on a state-by-state basis, and federally chartered banks lacking necessary technological skills. Anchorage will be the first to have both the technical ability and "regulatory clarity" for real participation in the crypto world.The news may be behind a whoosh higher in bitcoin (BTC-USD) in the last 90 minutes, now up 6.3% today and trading hands at $36.45K, its highest level since the Sunday/Monday crash.

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