Cryptocurrency custodian Anchorage has announced the addition of a Wrapped Filecoin (wFIL) token on its platform.
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In a cooperation with Tokensoft, a white-label platform & custody solution provider, Anchorage is working on bringing an increasing amount of liquidity to the space, the company announced in an official blog post.
"We are proud to offer a solution that brings one more way for institutions to securely participate in the digital asset space, and excited for wrapped Filecoin to join our expanding list of wrapped layer one assets," said Diogo Mónica, Co-Founder and President of Anchorage.
According to Mónica, big players want more and better ways to put their assets to work. The Anchorage Co-Founder claims institutionals want access to decentralized finance (DeFi) applications like lending and borrowing with Filecoin, with Zcash — with all of their layer-one assets.
In January 2020, iHodl reported that Anchorage launched its own brokerage service dubbed Anchorage Trading.
The new service allows institutional investors to store their cryptos with Anchorage so that they can trade directly from its platform, which charges a flat fee of 10 basis points per trade. The number of available assets will increase in the future and clients will be able to suggest new cryptos for listing.
However, the crypto custodian is not the only one in the space who is working on mass adoption of the Filecoin ecosystem. Earlier, cryptocurrency exchange Gemini announced it is developing its own version of a Wrapped Filecoin service so that Filecoin (FIL) can be used on the Ethereum network.
The new service will allow users to exchange FIL in their Gemini account 1:1 into wFIL (and vice versa) and withdraw it to any Ethereum address. All the tokens will be stored in Gemini's custodian with transparency so that users can verify that the amount of FIL we hold is equal to the wFIL currently in circulation.
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