News Summary

• Anchorage Digital is exploring a stablecoin issuance model designed to offer institutional stablecoin issuers better liquidity, capital efficiency and security.
• This Cashless Reserves model would rely on just-in-time liquidity to meet redemption demand, thereby optimizing treasury management and yield opportunities.
• The company is working with J.P. Morgan Asset Management to explore a potential tokenized instrument solution that could be used by the third party.
• Anchorage Digital aims to become the infrastructure underneath crypto banks, and wants all banks to become crypto banks.