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Anchorage launches crypto trading services, acquires Merkle Data

Anchorage, a cryptocurrency custody company for institutional investors announced its acquisition of Merkle Data and its entry in crypto trading services with the launch of Anchorage trading platform.

The acquisition of Merkle Data, a software-based portfolio risk management and analytics startup, aims for a safer and accessible cryptocurrency-linked business. Anchorage is marking the beginning of its expansionary phase and will be benefitted due to the capabilities of Merkle’s data analytics expertise and technology. The financial details of the acquisition have not been disclosed.

Merkle Data primarily focusses on helping institutional investors detect manipulative behaviors in crypto markets, among other forms of risk. The company has developed a special intelligent algorithm that detects manipulative behaviours in the cryptocurrency market.

Anchorage trading, the company’s new trading service is very similar to its custodian services but is limited to institutional customers only. The platform will allow its clients to buy and sell bitcoin (BTC) and altcoins directly from Anchorage’s vaults through its expert traders, without needing to transfer the assets to exchange. The platform rollout is associated with the company’s goal of becoming a one-stop-shop for its clients’ digital asset needs.

“We are joining forces to further our shared mission of serving institutional crypto investors and strengthening the crypto financial system.” said CEO of Merkle Data

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