Crypto bank Anchorage has acquired Securitize's wealth management division

ChainCatcher news, according to The Block, Anchorage Digital, the first federally chartered crypto bank in the United States, has acquired Securitize For Advisors, the wealth management division of tokenization company Securitize. The terms of the deal were not disclosed.

This move will help Anchorage expand its financial advisory services for registered investment advisors. Anchorage will absorb the Securitize For Advisors team and its front-end platform. According to the announcement, over the past year, Securitize For Advisors has grown by more than 4500%, with new deposits and net assets under management both reaching record highs.

Securitize CEO Carlos Domingo pointed out that its advisory division has "achieved incredible success," but this sale will allow Securitize to focus on its "core business."