Anchorage Digital is expanding its Atlas Collarate Management platform through a new partnership with Ethena Labs. Under the agreement, Anchorage will act as a collateral manager for Athena’s institutional lending activities, allowing the protocol to expand lending to institutions while keeping collateral securely in Anchorage, rather than moving completely on-chain.
According to Tuesday’s announcement, Atlas will monitor collateral and loan thresholds in real time, automate the margin process and take actions based on rules. Anchorage Digital Bank already serves as the US issuer of Ethena’s institutional-grade stablecoin USDtb.
Athena began pivoting to over-collateralized institutional lending in April as part of a major overhaul of its financial institutions. $USDe spare. This movement is $USDerelies on perpetual futures, which it uses to maintain its peg to the dollar through basis trading.
“Ethena is building for a future where crypto-native financial products serve increasingly sophisticated institutions. Atlas Collarate Management provides the management, custody and operational standards necessary to support that next stage of growth,” Ethena founder Guy Young said in a statement.
This is not the first time Anchorage has offered users access to crypto-native borrowing rates and liquidity without leaving the company’s cold storage systems. For example, in January, the company Partnered with Spark Provides access to on-chain lending platforms using off-chain assets.
“Financial institutions want access to crypto-native capital, but don’t want to sacrifice the rigor of custody, management, and operations,” said Nathan McCauley, co-founder and CEO of Anchorage. “Atlas Collateral Management enables protocols like Ethena Labs to meet institutional investors where they are, combining the speed of DeFi with the standards that institutions demand.”
