Axios Pro: Fintech Deals

November 04, 2022

Axios Pro Exclusive Content

Happy Friday, Fintech Friends!

Situational awareness: Editor Michael Flaherty here telling you that next week, Lucinda returns to NYC from Lisbon and the Web Summit event, and Ryan returns to normal life after the World Series concludes and the Phillies season ends (on a positive note, he hopes).

1. Apollo taps Anchorage for crypto custody

Illustration: AΓ―da Amer/Axios

Oct. 31 β€” Apollo Global Management is expanding its exposure to crypto and other digital assets through a partnership with federally chartered crypto custodian Anchorage Digital, Ryan wrote.

Why it matters: Despite a decline in the price of bitcoin and other cryptocurrencies this year, institutional investors continue to show an appetite for making crypto a part of their portfolios.

Between the lines: Anchorage was the first crypto-native company to receive a banking charter from the OCC in January 2021, giving it a leg up in working with institutional investors like Apollo.

Read more on this and the rest of Monday's Fintech Deals letter

Plus: Monday's ProRata, discussing antitrust scrutiny on private equity.

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