Binance has partnered with Anchorage Digital to expand institutional-grade third-party banking settlement network.

BlockBeats News, July 1st, Binance announced a partnership with digital asset custodian Anchorage Digital to integrate the latter's Atlas off-chain settlement platform into the Binance Triparty Banking network, offering institutional clients a new compliant custody and settlement solution.

Through this integration, eligible institutional clients can custody crypto assets and USD funds with Anchorage Digital independently and trade them on Binance using them as collateral, without the need to pre-fund the trading platform, thereby reducing counterparty risk and enhancing capital efficiency.

Furthermore, Binance stated that Triparty Banking supports not only trade settlement but also capital market activities such as lending and collateral management. Institutional clients can use cash, crypto assets, and some tokenized real-world assets (RWA) as collateral, including BlackRock's BUIDL, Circle's USYC, and Franklin Templeton's iBENJI money market fund products. This partnership also marks Anchorage Digital's Atlas platform's first integration with a cryptocurrency exchange.