Crypto platform Anchorage brings Sun's Tron to US investors

NEW YORK, March 26 (Reuters) - ‌Anchorage Digital, a ​federally ​regulated U.S. crypto platform, said on Thursday it would add Justin Sun's Tron blockchain to its network, expanding the ‌venture's access to U.S. investors.

The deal with Anchorage marks ⁠another regulatory milestone for Sun, who this month reached a $10 million settlement to resolve ‌U.S. Securities and Exchange Commission ‌charges. Sun and his companies did not admit or deny wrongdoing, the SEC said.

San Francisco-based Anchorage is the only federally chartered ​crypto bank in the United States and provides crypto custody, settlement and other services for financial firms such as hedge funds, as ⁠well as other crypto players.

"By supporting Tron on Anchorage Digital's regulated platform, we're helping bring ​one of crypto's largest ecosystems into an institutional framework," Anchorage co-founder and CEO Nathan McCauley said in a ​statement.

Anchorage clients will now be able to ‌custody Tron's tronix, potentially paving the way for greater adoption of the token in the U.S. and boosting ⁠Tron's goal of expanding in the country.

The Tron Foundation, which oversees the blockchain network, is based in Singapore.

U.S. investors who wish to invest and trade ⁠in Tron's token currently do so mostly through decentralized exchanges, which aim to ​cut out the middleman and allow users to transact directly on a blockchain network.

President Donald Trump has pushed to make the U.S. a global hub for ‌cryptocurrencies and courted cash on the campaign trail by promising to overhaul policies toward digital assets.

Sun, a major ‌backer of the Trump family crypto venture World Liberty Financial, said in ⁠a statement that Tron's partnership ‌with Anchorage will help "expand ​secure institutional access" to the blockchain network.

(Reporting by Hannah Lang in New York; editing by Michelle Price and ‌Alexander Smith)

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