Shari Noonan, CEO of fintech pioneer Rialto Markets has applauded a new digital infrastructure, potentially boosting her company’s access to institutional investors and other parts of its broker-dealer operations.
“We have linked with this new offering from Anchorage Digital that will open floodgates for us,” said Noonan.
“Most notably, we expect our institutional business via our ATS (Alternative Trading System) to grow in completely new sectors and offerings as institutional players look to future-proof and grow their franchises to meet the demand in the private markets.”
Anchorage Digital, which claims to be the first crypto-native bank to receive a US charter, has used the banner “Build With Anchorage” for the API (application programming interface) environment it has created for institutional partners such as Rialto Markets to leverage.
By working with Anchorage, clients can design and test their own bespoke crypto solutions, crypto payment gateways, structured financial products, and crypto investing in bringing them to market while following the prescribed industry rules and regulations.
Shari Noonan added: “Having spent some years designing and ensuring our pioneering ATS met all the understandably stringent compliance requirements demanded by the financial regulators, we know how valuable it is for other Anchorage users to be able to ‘plug in’ to an infrastructure that also understands the importance of compliance.
Diogo Mónica, Co-founder and President of Anchorage Digital, said the bank launched five years ago due to institutional demand for a secure and regulated digital asset service.
“Security is in our DNA, and we’ve built that layer into every use case we’re announcing today. Today’s financial services institutions not only want to custody their own crypto balance sheets with us, but they (also) want to offer crypto products to their customers or use crypto in novel ways. ‘Build With Anchorage’ enables them to tap into the crypto economy. They see what we see: every business will be a crypto business.”
Rialto Markets, currently heading towards a $1.2 billion milestone in signed contracts since the first client launch in 2019 and raising $452 million in capital for 17 clients, is one of a band of initial partners leveraging Build with Anchorage.
Shari Noonan added: “Anchorage’s platform aims to make the trading experience faster and more efficient than current bifurcated and manual processes across private markets in a regulated environment that gives our customers confidence. We are excited to partner with them for digital securities trading services.”