Apollo Global Management, an American private equity firm with more than $30 billion in assets under management has signed a new partnership with Anchorage Digital for its crypto custody options.

The partnership between the duo has evolved and, as the latest firm revealed, it will only be in charge of safeguarding the cryptocurrencies of Apollo, which is now entering the Web3.0 world.

“Apollo is a leader in the alternatives industry, so their use of the Anchorage custody platform is incredibly validating, and we hope this collaboration can set the standard for how institutions work with regulated digital asset banks like Anchorage to provide custody and other services for your crypto. holdings. Being both agile and secure with digital asset portfolios does not have to be mutually exclusive, and we are confident this partnership will prove that,” said Diogo Monica, Co-Founder and President of Anchorage Digital.

The era where the crypto ecosystem is considered by major investment firms to be an odd branch of the financial industry has passed. Many institutional investors today are now exploring new and unique avenues whereby they can join the bandwagon and meet the demands of their existing customers while attracting new customers.

Apollo continues to be one of the top investment teams pushing their limits with a steady entry into the Web3.0 space. While its custodial relationship with Anchorage Digital dates back to 2021, the company dove a little deeper into the industry when it joined the investors who financed Anchorage when it raised $350 million in Series D funding last December.

While its adoption of cryptocurrencies is still taking shape, Apollo said its choice of Anchorage Digital as its primary strategic partner is based on the firm’s “strong emphasis on security and segregation of client assets,” as well as in the “ease of use for asset managers to have digital tokens.”

Image Source: Shutterstock