Apollo Teams Up With Anchorage to Expand its Product Offering

Apollo Global Management, an American private equity firm with more than $30 billion in assets under management has inked a new partnership with Anchorage Digital for its crypto custody options.


The partnership between the duo has been an evolving one and as revealed by the latter firm, it will solely be in charge of safeguarding the crypto holdings of Apollo which is now deepening its feet into the Web3.0 world.

“Apollo is a leader in the alternatives industry, so their use of Anchorage’s custody platform is incredibly validating, and we expect this collaboration can set the bar for how institutions work with regulated digital asset banks like Anchorage to provide custody and other services for their crypto holdings. Being both nimble and secure with digital asset portfolios doesn’t have to be mutually exclusive–and we are confident this partnership will prove that,” said Diogo Mónica, Co-Founder and President, of Anchorage Digital.

The era where mainstream investment firms consider the crypto ecosystem as an alien offshoot of the financial industry is passed. Many institutional investors today are now exploring new and unique avenues by which they can join the bandwagon, and fulfill the demands of their existing customers while attracting new customers.

Apollo remains one of the major investment outfits pushing its boundaries with a steady entry into the Web3.0 space. While its custody relationship with Anchorage Digital dates back to 2021, the company dipped its feet into the industry some more when it joined the investors that bankrolled Anchorage when it raised $350 million in Series D funding last December.

While its crypto embrace is still shaping up, Apollo said its choice of Anchorage Digital as its primary strategic partner is based on the firm’s “strong emphasis on security and segregation of client assets,” as well as the “ease of use for asset managers to hold digital tokens.”

Image source: Shutterstock


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Alternative Asset Manager with $89 Billion AUM to Put Funds on Blockchain

Alternative asset manager Apollo Global Management today announced a partnership with Figure Technologies to launch several fund-based blockchain initiatives.

Apollo Global Management Partners with Figure Technologies

In a bid to leverage blockchain technology in the world of finance, asset manager Apollo Global Management has inked a deal with Figure Technologies to collaborate on blockchain-based initiatives.

For the uninitiated, Figure founded the Provenance blockchain – a distributed ledger technology (DLT) solution used to power numerous financial applications including asset-backed securities, managing cap tables for stocks, and payments.

It is worthy of note that in May this year, Figure raised a whopping $200 million at a $3.2 billion valuation.

Figure’s alliance with Apollo will largely focus on listing funds on the blockchain, asset securitization, and digital marketplaces.

Commenting on the development, John Zito, Senior Partner and Deputy CIO of Credit, Apollo, noted:

“This collaboration extends Apollo’s strategy of working with best-in-class fintech firms to seek the operational and cost benefits that blockchain and other technologies can bring to bear.”

As for Apollo, the asset manager has about $463 billion in assets under management as of today. Out of its total AUM, about $323 billion is in credit and the firm has been continually making strides in the blockchain space. The latest partnership with Figure Technologies is just the latest of the milestones for the asset manager.

Blockchain Adoption Continues to Gain Traction

While the crypto market continues to see-saw after the parabolic surge witnessed throughout Q1 2021, the technology underpinning all digital assets continues to witness greater adoption across industries the world over.

On July 5, the World Economic Forum in a detailed report stated the benefits of blockchain technology, saying that the emerging technology could be the solution to mitigating corruption in government services.

An example of blockchain’s use was witnessed recently in India where major IT firm Tech Mahindra allied with Singapore and Hyderabad-based digital supply chain solutions provider StaTwig to implement ‘VaccineLedger’ – a blockchain technology-based supply chain solution to verify the provenance of vaccines across the world.

On a similar note, the National Australian Bank recently partnered with several institutions to launch a blockchain-enabled carbon offset marketplace dubbed Project Carbon.

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