Anchorage Digital has partnered with Binance to launch off-exchange settlement for institutional crypto trading, powered by its Atlas infrastructure.
The service, powered by Atlas, allows institutional clients to trade on Binance while keeping their assets in segregated custody with Anchorage Digital, rather than holding funds directly on the exchange.
In traditional financial markets, custody and trading are typically handled by separate parties, with assets held by a custodian and transferred only at final settlement rather than sitting in commingled accounts on a trading venue's balance sheet. According to Anchorage Digital, institutional participants in digital assets have increasingly sought market structures that reflect this separation as their involvement in the sector has grown.
Off-Exchange Settlement is designed to apply that model to crypto trading. Institutional clients can access liquidity on Binance while their assets remain in custody with Anchorage Digital, rather than being held on the exchange itself. Furthermore, under the arrangement, institutions can also pledge both crypto assets and USD accounts as collateral to meet trading margin requirements, allowing capital to remain deployable elsewhere while satisfying those requirements.
Nathan McCauley, co-founder and CEO of Anchorage Digital, said the arrangement is intended to give institutions a market structure aligned with standards used in traditional finance, separating custody from execution while providing access to Binance's liquidity. In addition, Catherine Chen, head of VIP and institutional at Binance, said the integration gives institutional clients an additional way to manage custody and collateral through a model more familiar to traditional financial markets.
Part of a broader settlement suite
The integration represents the first off-exchange settlement implementation within Atlas, Anchorage Digital's suite of settlement infrastructure, which is built to support institutional workflows spanning trading, settlement, lending, and collateral management. The launch also extends Binance's existing Triparty Banking and institutional off-exchange and collateral management offering, adding a further custody-separated option for clients trading on the exchange.
Anchorage Digital already provides trading, staking, custody, governance, settlement, and collateral management services to institutional clients. The addition of Off-Exchange Settlement extends this offering into settlement infrastructure aimed at institutions seeking to combine exchange liquidity with independent custody arrangements. The integration reflects a broader trend among crypto infrastructure providers and exchanges to align digital asset market structure more closely with practices established in traditional capital markets, as institutional participation in the asset class continues to develop.
