Binance and Anchorage bring off-exchange settlement to traders

Binance has partnered with Anchorage Digital to let institutional clients trade on Binance while keeping assets in segregated custody through Anchorage’s Atlas platform.

Binance adds Anchorage to triparty banking network

Binance said the partnership expands its Banking Triparty product for institutional and professional clients. The deal gives eligible clients another custody option while they access Binance liquidity for trading.

The integration also marks the first crypto exchange connection inside Anchorage Digital’s Atlas settlement platform. Binance said the setup lets institutions manage collateral, custody and exchange access without keeping pledged assets directly on the exchange.

The main focus of the partnership is the separation of custody and execution. In traditional markets, institutions often keep assets with a custodian while using separate venues for trading.

He said Atlas is designed to help clients access exchange liquidity while keeping assets in secure custody.

Atlas supports off-exchange settlement

Through Atlas, institutions can pledge crypto assets and USD accounts as collateral while accessing Binance liquidity. Binance said this setup can help clients avoid leaving collateral idle on the exchange and manage capital across trading, settlement, lending and collateral workflows.

The companies said eligible institutions may use crypto assets, cash equivalents and some tokenized real-world assets as collateral, subject to availability. Binance listed examples such as BlackRock’s BUIDL, Circle’s USYC and Franklin Templeton’s iBENJI in its collateral framework.

Institutional demand shapes product push

“Custody and execution, separated. The way institutions expect,” Binance said on X. The exchange said institutional clients can now use Anchorage Digital for segregated custody while trading through Binance.

“Institutional crypto trading is evolving toward the market structure that traditional finance has relied on for decades: separated custody and execution,” 

Binance CEO Richard Teng said in a post on X. Teng said the partnership gives institutions another option for triparty banking needs.

As previously reported by crypto.news, Binance and Franklin Templeton had already worked on a collateral program that allows eligible institutions to use tokenized money market fund shares for crypto trading. That earlier program also focused on keeping assets in regulated custody while giving traders access to Binance markets.

As reported earlier by crypto.news, institutional crypto activity has been moving through prime brokers, OTC desks, structured products and private channels beyond exchange-traded funds. The Binance-Anchorage deal fits that wider move toward private institutional rails, custody controls and off-exchange settlement.

She said working with Anchorage Digital gives eligible clients another way to use Binance liquidity while managing custody and collateral through a model familiar to traditional financial markets.