加密货币业重大里程碑：首家托管公司获得美联邦银行颁发的牌照
一家名为Anchorage的初创企业在1月13日宣布，公司已经成为了首家获得美国货币监理署（Office of the Comptroller of the Currency）颁发的联邦牌照的加密货币公司。
虽然这则新闻听起来有心血来潮之嫌，而且专业味十足，但它对于蓬勃发展的加密货币行业来说是一个重大里程碑，因为此举从法律意义上为大型银行和其他传统金融公司通过Anchorage向其客户销售比特币和其他数字货币的举措开了绿灯。
Anchorage由金融巨头Square的两位资深人士于2017年成立，最初是一家托管服务公司，为各大机构提供获取和储存加密货币的新方式。尽管托管服务依然是公司的主业，但Anchorage如今提供的其他服务包括交易、借贷以及帮助客户应对“去中心化金融”这个新兴世界的工具。
在《财富》杂志的采访中，首席执行官内森·麦考利预测，新牌照将吸引数千家银行与Anchorage建立合作关系，并为最近的加密货币热注入新燃料。
麦考利说：“它会吸引所有那些迄今为止一直在犹豫是否要投身加密货币的人士。它意味着加密货币资产的可用性将出现重大变化。”他还指出，自己预计更多大公司将跟随Square和Microstrategy的步伐，在自己的财富中添置加密货币资产。
尽管包括Anchorage和交易所Kraken在内的多家加密货币公司已经获得了州银行颁发的牌照，但这些牌照的法律效力十分模糊。相反，联邦牌照则明确表明，大型银行可以使用Anchorage来持有其客户的加密货币资产。
Anchorage获得的牌照类型是一个信托牌照，意味着公司没有权力像传统的存款和支票账户那样，获得美国联邦存款保险公司（FDIC）的支持。然而麦考利指出，机构客户无需担心这一点。他还说，Anchorage已经与保险巨头怡安（Aon）签订了一份综合保单，并将其作为亏损后的后盾。
加密货币新前沿
在联邦银行体系监管机构美国货币监理署做出向Anchorage发放牌照的决定之前，该机构的负责人布莱恩·布鲁克斯在最近做出了一系列有利于加密货币的决定。布鲁克斯的这些决定包括：允许银行使用稳定币（与法币挂钩的合成币）以及依靠区块链网络进行交易清算。布鲁克斯曾经是加密货币巨头Coinbase的首席律师。
麦考利称，这些监管进展将有助于启动对国家金融体系进行重大更新。他称，此举可能会使Anchorage最大的投资者Visa以及其他大型支付提供商在不久的将来整合加密货币原生“轨道”（行业术语，意指金融信息传递的网络）。
Anchorage当前并不盈利。麦考利称其去年的营收达到了上千万美元，而且公司的资产负债表“非常健康”。这家公司有70名员工，其很大一部分收入来自于加密货币资产存储佣金。然而，公司的借贷和交易业务如今占到了其营收的约25%。
在未来，麦考利预计Anchorage将从当前包括“抵押挖矿”和“治理”等特殊服务中获得更多的收入。这些术语描述的是Tezos和Dfinity等新生代加密货币项目的特色功能，能够让其数字代币担任投票工具，也就是说所有者可以通过这项功能决定项目应该如何运营。这些功能也是去中心化金融这一新兴领域的一个重要特色，其中包括Uniswap这样的项目，基本上由自动化的计算机程序管理。
如果加密货币持续在主流金融界受到追捧，那么像Anchorage和竞争对手Coinbase Custody这样的服务可能会获益匪浅，因为银行会转而通过它们提供白标软件，为自己的客户提供服务。理论上它可能会演变为，像美国银行（Bank of America）这类金融机构在某一天不仅会向消费者提供比特币，还会提供多如繁星的其他加密货币资产和服务。
然而，我们无法保证所有这一切都会实现。尽管加密货币市场在过去六个月中红得发紫，而且比特币的价格突破了4万美元大关，但它依然可能会出现暴跌，例如1月9日至10日那个周末的暴跌。还有一种可能，刚上任的拜登政府可能会用对加密货币不那么友好的领导，替换供职于美国货币监理署的布鲁克斯，而且其他金融机构，尤其是美国证券交易委员会（SEC），依然对加密货币行业充满质疑。
然而，麦考利自称无需担心监管逆风。他指出，货币监理署的布鲁克斯下达的指令并非是新规则，而是对现有规则的诠释，这意味着这些规则不大可能会被撤回。货币监理署如今正在考虑为其他两家加密货币公司颁发联邦牌照。
与此同时，Anchorage从Visa和其他投资者那里筹集了5700万美元，并称收到了来自于其他潜在投资者的无数问询，而且公司预计在不久的将来筹集更多资金。
译者：冯丰
审校：夏林
一家名为Anchorage的初创企业在1月13日宣布，公司已经成为了首家获得美国货币监理署（Office of the Comptroller of the Currency）颁发的联邦牌照的加密货币公司。
虽然这则新闻听起来有心血来潮之嫌，而且专业味十足，但它对于蓬勃发展的加密货币行业来说是一个重大里程碑，因为此举从法律意义上为大型银行和其他传统金融公司通过Anchorage向其客户销售比特币和其他数字货币的举措开了绿灯。
Anchorage由金融巨头Square的两位资深人士于2017年成立，最初是一家托管服务公司，为各大机构提供获取和储存加密货币的新方式。尽管托管服务依然是公司的主业，但Anchorage如今提供的其他服务包括交易、借贷以及帮助客户应对“去中心化金融”这个新兴世界的工具。
在《财富》杂志的采访中，首席执行官内森·麦考利预测，新牌照将吸引数千家银行与Anchorage建立合作关系，并为最近的加密货币热注入新燃料。
麦考利说：“它会吸引所有那些迄今为止一直在犹豫是否要投身加密货币的人士。它意味着加密货币资产的可用性将出现重大变化。”他还指出，自己预计更多大公司将跟随Square和Microstrategy的步伐，在自己的财富中添置加密货币资产。
尽管包括Anchorage和交易所Kraken在内的多家加密货币公司已经获得了州银行颁发的牌照，但这些牌照的法律效力十分模糊。相反，联邦牌照则明确表明，大型银行可以使用Anchorage来持有其客户的加密货币资产。
Anchorage获得的牌照类型是一个信托牌照，意味着公司没有权力像传统的存款和支票账户那样，获得美国联邦存款保险公司（FDIC）的支持。然而麦考利指出，机构客户无需担心这一点。他还说，Anchorage已经与保险巨头怡安（Aon）签订了一份综合保单，并将其作为亏损后的后盾。
加密货币新前沿
在联邦银行体系监管机构美国货币监理署做出向Anchorage发放牌照的决定之前，该机构的负责人布莱恩·布鲁克斯在最近做出了一系列有利于加密货币的决定。布鲁克斯的这些决定包括：允许银行使用稳定币（与法币挂钩的合成币）以及依靠区块链网络进行交易清算。布鲁克斯曾经是加密货币巨头Coinbase的首席律师。
麦考利称，这些监管进展将有助于启动对国家金融体系进行重大更新。他称，此举可能会使Anchorage最大的投资者Visa以及其他大型支付提供商在不久的将来整合加密货币原生“轨道”（行业术语，意指金融信息传递的网络）。
Anchorage当前并不盈利。麦考利称其去年的营收达到了上千万美元，而且公司的资产负债表“非常健康”。这家公司有70名员工，其很大一部分收入来自于加密货币资产存储佣金。然而，公司的借贷和交易业务如今占到了其营收的约25%。
在未来，麦考利预计Anchorage将从当前包括“抵押挖矿”和“治理”等特殊服务中获得更多的收入。这些术语描述的是Tezos和Dfinity等新生代加密货币项目的特色功能，能够让其数字代币担任投票工具，也就是说所有者可以通过这项功能决定项目应该如何运营。这些功能也是去中心化金融这一新兴领域的一个重要特色，其中包括Uniswap这样的项目，基本上由自动化的计算机程序管理。
如果加密货币持续在主流金融界受到追捧，那么像Anchorage和竞争对手Coinbase Custody这样的服务可能会获益匪浅，因为银行会转而通过它们提供白标软件，为自己的客户提供服务。理论上它可能会演变为，像美国银行（Bank of America）这类金融机构在某一天不仅会向消费者提供比特币，还会提供多如繁星的其他加密货币资产和服务。
然而，我们无法保证所有这一切都会实现。尽管加密货币市场在过去六个月中红得发紫，而且比特币的价格突破了4万美元大关，但它依然可能会出现暴跌，例如1月9日至10日那个周末的暴跌。还有一种可能，刚上任的拜登政府可能会用对加密货币不那么友好的领导，替换供职于美国货币监理署的布鲁克斯，而且其他金融机构，尤其是美国证券交易委员会（SEC），依然对加密货币行业充满质疑。
然而，麦考利自称无需担心监管逆风。他指出，货币监理署的布鲁克斯下达的指令并非是新规则，而是对现有规则的诠释，这意味着这些规则不大可能会被撤回。货币监理署如今正在考虑为其他两家加密货币公司颁发联邦牌照。
与此同时，Anchorage从Visa和其他投资者那里筹集了5700万美元，并称收到了来自于其他潜在投资者的无数问询，而且公司预计在不久的将来筹集更多资金。
译者：冯丰
审校：夏林
A startup called Anchorage announced on January 13 that it has become the first cryptocurrency company to receive a federal charter from the Office of the Comptroller of the Currency.
Wonky and technical as it sounds, the news is a significant milestone for the burgeoning crypto industry, since it provides a legal green light for big banks and other traditional financial companies to use Anchorage as a means to offer Bitcoin and other digital currencies to their customers.
Founded in 2017 by two veterans of financial giant Square, Anchorage began as a custody company that offered institutions a novel way to access and store cryptocurrency. While custody is still the company's bread and butter, Anchorage now offers other services including trading, lending, and tools to help customers navigate the emerging world of "decentralized finance."
In an interview with Fortune, CEO Nathan McCauley predicted that the new charter will lead hundreds of banks to turn to Anchorage as a partner and provide new fuel to the recent cryptocurrency boom.
"It will let all sorts of people come to the table who until now have been hesitant to come in. It marks a big shift in the availability of crypto assets," said McCauley, adding that he expects more big corporations to follow the example of Square and Microstrategy by adding crypto to their treasuries.
While several crypto companies, including Anchorage and the exchange Kraken, have already received state banking charters, the legal effect of those charters is ambiguous. Conversely, the federal charter makes clear that big banks can use Anchorage to hold the crypto assets of their clients.
The specific charter issued to Anchorage is a trust charter, which does not entitle the company to claim the backing of the FDIC, as traditional savings and checking accounts do. But McCauley says this is not a concern for institutional clients, adding that Anchorage has a comprehensive policy with insurance giant Aon to serve as a backstop in the event of loss.
A new frontier for the crypto industry
The decision by the Office of the Comptroller of the Currency, which oversees the federal banking system, to issue Anchorage a charter follows a series of recent crypto-friendly decisions by the agency's head, Brian Brooks. Those decisions by Brooks, a former top lawyer at crypto giant Coinbase, include permitting banks to use stablecoins—synthetic currency pegged to fiat money—and to rely on blockchain networks to settle transactions.
According to McCauley, these regulatory developments are helping to initiate a major update to the country's financial plumbing. He says this could entail Visa, one of Anchorage's largest investors, and other big payment providers incorporating crypto-native "rails"—the industry term for the networks over which financial information travels—in the near future.
Anchorage is not currently profitable. McCauley says its revenue last year was in the tens of millions and that it has a "very healthy" balance sheet. The 70-employee company still makes the bulk of its money from charging a commission on the crypto assets it stores, but its lending and trading operation now makes up around 25% of its revenue.
In the future, McCauley expects Anchorage to bring in more money from what are now exotic services like "staking" and "governance." These terms describe features of newer cryptocurrency projects like Tezos and Dfinity, which allow their digital tokens to serve as voting tools by which their owners can determine how the projects operate. Those features are also an important feature of the emerging world of decentralized finance (DeFi), including projects like Uniswap, which are largely governed by automated computer programs.
If cryptocurrency continues to gain traction in the world of mainstream finance, services like Anchorage and rival Coinbase Custody could benefit enormously as banks turn to them to provide white label software to serve their own clients. In theory, this could involve the likes of Bank of America one day offering not just Bitcoin but a galaxy of other crypto assets and services to customers.
There is no guarantee all of this will come to pass, however. While the crypto market has been red-hot in the past six months, with the price of Bitcoin eclipsing $40,000, it is still prone to violent crashes like one that happened the weekend of Jan. 9–10. It's also possible that the Biden administration may replace Brooks at the OCC with a less crypto-friendly leader, while other financial agencies—notably the SEC—remain deeply skeptical of the crypto industry.
McCauley, though, professes not to worry about regulatory headwinds. He notes that Brooks’ directives from the OCC, which is also considering federal charters for two other crypto companies, are not new rules but rather interpretations of existing ones—meaning they are less likely to be rolled back.
Meanwhile, Anchorage, which has raised $57 million from Visa and others, says it has been receiving numerous inquiries from other potential investors and that it expects to raise more money in the near future.
