U.S. markets close in 4 hours 23 minutes
  • S&P 500

    3,972.11
    +8.60 (+0.22%)
     
  • Dow 30

    33,801.57
    +20.09 (+0.06%)
     
  • Nasdaq

    11,125.28
    +43.28 (+0.39%)
     
  • Russell 2000

    1,813.18
    -5.11 (-0.28%)
     
  • Crude Oil

    72.56
    +1.10 (+1.54%)
     
  • Gold

    1,814.10
    +12.60 (+0.70%)
     
  • Silver

    23.81
    +0.56 (+2.40%)
     
  • EUR/USD

    1.0551
    -0.0009 (-0.08%)
     
  • 10-Yr Bond

    3.5490
    +0.0580 (+1.66%)
     
  • GBP/USD

    1.2314
    +0.0076 (+0.62%)
     
  • USD/JPY

    136.3530
    -0.2770 (-0.20%)
     
  • BTC-USD

    17,192.50
    +261.66 (+1.55%)
     
  • CMC Crypto 200

    405.06
    -1.18 (-0.29%)
     
  • FTSE 100

    7,475.06
    +2.89 (+0.04%)
     
  • Nikkei 225

    27,901.01
    +326.58 (+1.18%)
     

Anchorage Hires Former Wells Fargo Digital Assets Executive for Banking, Capital Markets

Crypto bank Anchorage said Thursday it has hired former Wells Fargo blockchain executive Ken Chapman to be its director of banking and capital markets products.

“My primary role is going to be helping Anchorage address the overwhelming demand they’re receiving from banks for their services, including custody, trading and lending,” Chapman said. “I’m also going to be helping banks look at a different paradigm for settlement using blockchain as a rail.”

Chapman led digital assets and blockchain initiatives for the capital markets team at Wells Fargo for two years. He has also worked for Bank of America, BNY Mellon, investment firm Bridgewater Associates, JPMorgan and UBS.

Related: Citigroup se prepara para operar futuros de bitcoin en la Bolsa Mercantil de Chicago

Chapman said he envisions most banks setting up lending facilities for customers to take out loans against crypto collateral in the future. In addition to providing trading and custody services, banks will be looking for a federally chartered institution to partner with, he said. In June, Anchorage began offering ether-backed loans through Massachusetts-based BankProv.

“Anchorage is the first digital asset company to receive a federal charter from the OCC,” Chapman said, referring to the Office of the Comptroller of the Currency. “This is the same charter that other banks like BNY Mellon … I am moving from a traditional bank to a digital asset bank, but it’s still a bank.”

Related Stories