Anchorage, a company that holds cryptocurrencies for institutional investors, announced today that it will support ATOM, the native cryptocurrency of the Cosmos blockchain network.
Customers can hold ATOM on Anchorage, and since Cosmos is a proof-of-stake network, those who hold the coin can benefit from stakes. Customers can also trade ATOM with Anchorage new crypto brokerage service, Anchorage Trading.
The appeal of Cosmos is that blockchains can work together, potentially fixing one of the worst technical bottlenecks since Windows and iOS.
“By helping Anchorage with ATOM custody, Anchorage customers can participate in securing the Cosmos network through ATOM staking out. We’re excited to open the floodgates to user adoption by service providers like Anchorage, ”said Chjango Unchained, community leader at Cosmos & Tendermint.
Anchorage, which is also a member of the Facebook-led Libra Association, claims it will be the first institutional administrator to allow the use of Cosmos. Binance and Poloniex have offered it for ages, and Binance’s US outpost started supported it last week and Crypto Exchange Poloniex is also offering it.
“As crypto continues to evolve, custodians should adapt to protocol requirements and not the other way around.” – @diogomonica announces @Anchorage support for @cosmos ATOM. Custody and trade are now alive, the action is coming soon. Continue reading:
– Anchorage (@Anchorage) February 4, 2020
Today’s announcement comes in the middle Drama in the Cosmos community, however. The Director of Tendermint (the company developing the Cosmos blockchain) yesterday accused the project’s founder and CEO, Jae Kwon, of shirking responsibility when he withdrew from the project.
“What Jae is doing is not decentralization, but a transparent attempt to evade responsibility for Jae’s neglect and neglect of the Cosmos project,” said Zaki Manian, director of Tendermint, in one Twitter thread.
Despite the drama, the Anchorage announcement means good news for Cosmos – not that ATOM owners would know. The price of ATOM tokens is down 2 percent today and is around $ 4.20 per coin. That’s roughly half of its all-time high of $ 8.31 a coin Data from CoinMarketCap.