Anchorage Digital Unveils Porto: A Self-Custody Wallet for Institutions in the Web3 Space
Crypto custodian Anchorage Digital has launched a new institutional self-custody wallet called Porto. This wallet is specifically designed to provide institutions with access to web3 functionalities, allowing them to buy, sell, trade, vote, and collect rewards in the web3 space.
The San Francisco-based custodian aims to address the challenges faced by institutions when managing cryptocurrencies. With Porto, institutions can customize policies and permissions, execute Ethereum smart contracts, and connect with decentralized applications through the WalletConnect protocol.
Key Features of Porto
- Supports over 200 tokens
- Enables trading, voting, staking, and reward claiming
- Allows engagement in on-chain activities
Anchorage founders Diogo Mónica and Nathan McCauley have expressed their plans to expand Porto’s capabilities. They intend to add multi-network smart contract support for assets like Tendermint based assets and various EVM L2 chains.
The Advantages of Porto
Unlike existing self-custody solutions, Porto does not process transactions via third parties. Instead, it relies on institutions’ cryptographic instructions. Anchorage’s proprietary workflows eliminate the need to connect with separate custodian services as other MPC implementations might require.
About Anchorage Digital
Anchorage Digital was founded in 2017 and has received funding from notable investors such as Goldman Sachs, Andreessen Horowitz (a16z), GIC (Singapore’s sovereign wealth fund), Visa, and others. The company’s most recent Series D valuation exceeded $3 billion.
Hot Take: Porto Empowers Institutions in the Web3 Space
Anchorage Digital’s introduction of Porto, a self-custody wallet for institutions, is a significant development in the crypto space. This wallet provides institutions with seamless access to web3 functionalities and offers numerous advantages over existing solutions.
By using Porto, you can:
- Customize policies and permissions according to your institution’s needs
- Execute Ethereum smart contracts with ease
- Connect with decentralized applications through the WalletConnect protocol
- Engage in on-chain activities such as trading, voting, staking, and reward claiming
Porto’s unique feature of not relying on third-party transactions sets it apart from other self-custody solutions. With Anchorage’s proprietary workflows, you can enjoy a streamlined experience without the need for additional custodian services.
Anchorage Digital has established itself as a reputable player in the crypto industry, attracting significant investments from renowned companies. Their commitment to innovation is evident in the launch of Porto, which marks a major step forward for institutions looking to embrace the possibilities of web3.
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