Anchorage Digital vs Fireblocks: Bank Charter vs MPC Infrastructure
Anchorage Digital is a regulated institutional custody and crypto infrastructure provider operating Anchorage Digital Bank, N.A., which holds an OCC national bank charter in the United States. Fireblocks provides institutional multi-party computation wallet software and qualified custody through Fireblocks Trust Company, LLC, under an NYDFS limited purpose trust charter.
Their architectures differ. Anchorage Digital pairs full banking rails, including USD accounts and wire transfers, with hardware security module custody and its Atlas on-chain settlement network. Fireblocks emphasizes MPC key share distribution, API frameworks for embedded retail wallets, and off-exchange settlement through the Fireblocks Network. While Anchorage operates under federal banking supervision, Fireblocks centers on software-driven treasury infrastructure and transaction policy engines.
Quick verdict
The core dividing line sits between banking integration and software-driven wallet infrastructure. Anchorage Digital operates as a federally chartered bank under OCC supervision, integrating qualified cold storage directly with fiat rails, wires, and Atlas counterparty settlement. Fireblocks functions primarily as a software provider using multi-party computation, alongside an NYDFS-chartered trust company for qualified custody and embedded wallet SDKs for application developers.
Choose Anchorage Digital if your organization requires a federally chartered qualified custodian with integrated USD cash accounts and on-chain Atlas settlement. It suits corporate treasuries and crypto funds seeking proof-of-stake protocol delegation alongside traditional banking services.
Choose Fireblocks if your team needs multi-party computation key architecture, white-label embedded wallet SDKs to build consumer products, or off-exchange settlement via the Fireblocks Network. It works well for fintech platforms and active trading desks that focus on custom transaction policy governance over native banking rails.
| Feature | ||
|---|---|---|
| Ratings | ||
| Our score | 4.1/5 | 4.3/5 |
| User rating | No reviews yet | No reviews yet |
| Security | 4.0 | 4.0 |
| Compliance | 4.0 | 4.0 |
| Asset support | 4.0 | 5.0 |
| Features | 4.5 | 4.5 |
| Support | 4.0 | 4.0 |
| Specs | ||
| Custody model | Qualified custodian, HSM, Self-custody software | Qualified custodian, MPC, HSM, Self-custody software |
| Clients | Institutions, Funds, Corporates, High-net-worth | Institutions, Funds, Corporates |
| Regulated | Yes | Yes |
| SOC 2 report | Yes | Yes |
| Staking | Yes | Yes |
| API access | Yes | Yes |
| Licenses & charters | OCC national trust bank charter (US), NYDFS BitLicense (US), MAS Major Payment Institution license (Singapore), NFA introducing broker registration (US) | NYDFS limited purpose trust charter (US), FinCEN MSB registration (US), State money transmitter licenses in 37 states and DC (US) |
| MPC | Not disclosed | Yes |
| Cold storage | Yes | Yes |
| Qualified custodian | Yes | Yes |
| Company | ||
| Founded | 2017 | — |
| Headquarters | United States | United States |
| Investors | Tether, KKR, GIC | D1 Capital Partners, Spark Capital |
| Strengths and weaknesses | ||
| Pros |
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| Cons |
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| Best for | ETF issuers and asset managers that want a federally chartered custodian, Funds that stake or vote without moving assets out of custody, Trading firms using Binance with collateral held off-exchange | Exchanges and payment companies building in-house custody, Funds and RIAs that need a New York qualified custodian, Fintechs launching embedded or white-label wallets |
Highlighted cells show the stronger value in each row. Data comes from each provider's site and public sources; check details before you sign up.
FAQ
Which custodian holds a federal bank charter?
Anchorage Digital holds a national bank charter through the OCC via Anchorage Digital Bank, N.A. Fireblocks operates its qualified custody through Fireblocks Trust Company, LLC under an NYDFS limited purpose trust charter rather than a federal bank charter.
How do their custody technologies differ?
Anchorage Digital relies on hardware security modules and quorum-based transaction policies for its qualified custody platform. Fireblocks uses multi-party computation algorithms to distribute private key shares across separate parties, while also offering cold storage hardware through its trust company.
Does either platform support USD fiat banking rails?
Anchorage Digital provides native fiat banking services, including USD accounts, ACH transfers, and wires through Anchorage Digital Bank. Fireblocks focuses on digital asset infrastructure and payment automation without holding a direct national commercial banking charter for fiat deposits.
Can both platforms handle institutional staking?
Yes, both Anchorage Digital and Fireblocks support institutional staking. Anchorage Digital provides regulated staking across major proof-of-stake protocols with delegation options, while Fireblocks includes staking capabilities within its MPC and custody framework.