Binance Taps Anchorage for Tripartite Banking Solution

Binance has partnered with Anchorage Digital to offer a triparty banking arrangement for institutional clients. This model allows institutions to trade on Binance without holding their assets directly on the exchange.

The core idea behind this structure is to physically separate where assets are stored from where they're traded. The collapse of FTX in 2022 taught institutions a lesson about counterparty risk, and Binance's triparty framework addresses this by routing custody through a regulated entity like Anchorage.

Anchorage Digital holds a federal bank charter from the Office of the Comptroller of the Currency (OCC), making it the first crypto-native company to achieve this distinction. This partnership fits into Anchorage's broader infrastructure, which includes its Coordinated Multiparty Settlement (CMS) platform launched on June 1.