Anchorage Digital is pleased to announce support for Derive, the decentralized exchange enabling capital-efficient on-chain options.
Institutions trading on Derive can now “secure their balances on Derive via Porto, their institutional self-custody wallet.”
Derive is purpose-built for professional traders, “offering portfolio margin, capital-efficient spreads, and multi-asset collateral, all on-chain.”
With Porto, Derive users can now sign and execute trades across its modular derivatives platform “leveraging Anchorage Digital’s security architecture, eliminating the operational friction of legacy custody setups.”
Nick Forster, CEO and Co-Founder of Derive said:
“Derive serves the most active institutional and retail on-chain option traders. Having Porto as a secure, self-custody option removes blockers and lets our users trade with confidence.”
Institutional-grade self-custody for on-chain derivatives
With Porto, institutions can now:
- Set quorum-based approvals for depositing and withdrawing to and from Derive
- Define allowlisted smart contracts within Porto to restrict interactions to pre-approved counterparties and protocols
- Eliminate the need for hardware devices or browser extensions when interacting with Derive markets
Derive’s platform, trusted by “some of the most sophisticated crypto funds, now connects with Porto’s simple, secure self-custody experience to unlock deeper institutional participation in the on-chain options ecosystem.”
As usage of options and structured products in DeFi accelerates, Porto ensures that institutions “can keep up without compromising on security or user experience.”
Anticipating increasing demand, this collaboration between Derive and Porto enables institutions “to be at the forefront of accessing secure solutions for on-chain options trading.”
As covered, Anchorage Digital is a global crypto platform “that enables institutions to participate in digital assets through custody, staking, trading, governance, settlement, and the industry’s leading security infrastructure.”
Home to Anchorage Digital Bank N.A., the only federally chartered crypto bank in the U.S., Anchorage Digital also “serves institutions through Anchorage Digital Singapore, which is licensed by the Monetary Authority of Singapore; Anchorage Digital New York, which holds a BitLicense from the New York Department of Financial Services; and self-custody wallet Porto by Anchorage Digital.”
The company is reportedly funded by institutions “including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation over $3 billion.”
Founded in 2017 in San Francisco, California, Anchorage Digital “has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota.”