Crypto custody firm Anchorage Digital is working with Ethena Labs to participate as a collateral manager for institutional lending.
According to a recent report by The Block, Anchorage will custody and manage collateral for Ethena’s institutional lending activity through the Atlas Collateral Management platform. It will support institutions in borrowing from Ethena by securely placing collateral with Anchorage without fully transferring it on-chain.
Atlas monitors collateral and borrowing limits in real time, automates margin-related processes and executes rules-based actions. Anchorage Digital Bank is also participating as issuer of Ethena’s institutional stablecoin USDtb.
Ethena in April reduced its reliance on perpetual futures, which it had used to maintain its dollar peg, as part of an overhaul of the USDe reserve structure, and shifted toward over-collateralised institutional lending. Ethena founder Guy Young (가이 영) said, "Atlas Collateral Management provides the controls, custody and operating standards needed to support Ethena’s next stage of growth."
Earlier, in January, Anchorage introduced a service with Spark that uses cold-storage assets on an on-chain lending platform.
Chi-gyu Hwang
delight@d-today.co.kr