Anchorage has announced that it will use its custodian platform to support Ripple XRP starting from the 2nd of April report has shown. Awaiting the official announcement, they have been reported to have XRP ledgers set up and ready to support the growing cryptocurrency.
Anchorage is a big firm which has its origin in Delaware, U.S.A and houses it’s headquarters in San Francisco, California. The sole purpose for the support is to provide high quality custodian services which comes in a package that has the legal shield and insurance. Known for keeping assets 100%, Anchorage has said it’s customers need to aggregate their private keys and undergo cryptographic challenges in order to access their funds. This shows that the funds and investments entirely belong to the investors but in a case of attempted stealing, they can maintain exclusive control over the assets.
President and CEO of the firm, Diogo Monica praised the cryto and described it as one coin that appeals to the heart of investors. She was quoted as saying “Anchorage has always aimed to support every asset that meets our standards of quality and security, and XRP does both. Particularly during these uncertain times, we’re proud to be growing our list of supported assets and improving operational efficiency for our institutional clients.”
By market cap, XRP is regarded as the 3rd best coin after Bitcoin and Ethereum owning to the fact that most people use it as a basis for payment. Ripple labs the creator of the coin uses it for on-demand liquidity.
Ripple boasts of high value clientele and their clients base are majorly big banks. They facilitate individual network layers which is called Ripple.net. This individual layers allow their clients make fast, cheap and efficient transactions across the globe. All the transactions are all on XRP and not ripple.net which makes the individual transactions by the firms look stylish and safe.
Custodians general service is to secure funds and this claim was backed in a public official statement released that many firms across the world hold XRP. With many crypto exchange supporting XRP, a 20 XRP balance is needed to make the wallet operational. The company uses this to eliminate spammers and keep the real investors on their blockchain.
To access your funds, you might actually need multiple users to grant their unique key signatures and by so doing the server waits to grant access from both the customer and company part. Users can stake, hold and delegate coins in Anchorage while enjoying so many benefits such as airdrops and forked coins. With this users need not make drastic approaches like grabbing keys out of custody to make complicated moves.