Binance has added Anchorage Digital as a new triparty banking provider for institutional crypto trading. Announced on June 30, the setup lets eligible institutional and professional clients trade on Binance while keeping assets in segregated custody with Anchorage, a structure many firms have been looking for in digital asset markets.
The integration connects Anchorage to Binance’s Triparty Banking network through Anchorage’s Atlas settlement platform. In practice, institutions can access Binance liquidity without transferring custody of their assets to the exchange. Trade execution and custody remain separate. That mirrors a model long used in traditional finance, where different entities typically handle those functions.
Atlas Marks Its First Crypto Exchange Integration
Under the arrangement described by Binance, clients can keep independent custody and still use pledged assets as trading collateral. Binance also said institutions may pledge yield-bearing U.S. dollar accounts alongside crypto holdings. Anchorage stated that this is the first crypto exchange integration on the Atlas settlement platform, giving eligible clients another route for collateral management, settlement, and exchange access.
Binance CEO Richard Teng said institutional crypto trading is moving toward a structure that traditional financial markets have used for decades. Anchorage Digital co-founder and CEO Nathan McCauley said institutions increasingly expect crypto market infrastructure to meet traditional financial standards. Catherine Chen, Binance’s head of VIP and institutional, said the integration gives clients another way to reach exchange liquidity while maintaining custody through a framework familiar to institutional markets.
Collateral Options Extend Beyond Crypto Holdings
Binance said Triparty Banking is designed for more than trading activity. It also covers collateral management, lending, settlement, and broader capital markets operations. Subject to eligibility requirements, institutions can post different collateral types, including cash, cash equivalents, crypto assets, and certain tokenized real-world assets. Binance listed examples such as BlackRock’s BUIDL, Circle’s USYC, and Franklin Templeton’s iBENJI products.
The move builds on Binance’s initial triparty banking pilot launched in 2023. Since then, the exchange has continued adding banking and settlement partners. As institutional participation in digital asset trading expands, the market is also getting more custody-separated trading options.