Anchorage Digital Partners With Ethena Labs for Institutional Off-Chain Crypto Lending

Summary

Anchorage Digital has expanded its Atlas Collateral Management platform through a partnership with Ethena Labs, positioning the federally chartered crypto bank as collateral manager for Ethena's institutional lending operations. Under the arrangement, Anchorage Digital holds and monitors collateral in its qualified custody framework, while Ethena Labs deploys capital into institutional loans. The collateral stays within Anchorage's custody rather than moving fully onchain, a key distinction for institutions operating under strict regulatory and compliance requirements. This deal bridges traditional institutional finance with DeFi lending by keeping assets in qualified custody while enabling lending activities.