FlyCoin Inc., a cryptocurrency-based travel rewards technology company, will utilize Anchorage Digital to serve as the custodian of a significant portion of its minted cryptocurrency, FLY. Anchorage Digital is a regulated institutional platform and the first crypto company to receive a national bank charter from the Office of the Comptroller of the Currency (OCC). 

“Flycoin only selects the most reputable and trusted custodians of cryptocurrency to properly safeguard FLY for us and our partners,” said Lenny Moon, CEO of Flycoin. “We are excited to partner with Anchorage Digital, as, currently, they are the only federally regulated custodian of digital assets. We selected Anchorage for its robust security and controls, and its ability to easily move funds without sacrificing security.” 

Earlier in June, Flycoin also announced that it had partnered with BitGo as its first custodian.

Custodians of digital assets, like Anchorage Digital, play an essential role in providing transparency to holders and keeping assets safe while transferred across brokers and exchanges. Anchorage’s model allows institutions to transact with the same security architecture and controls of its custody model.

“We believe both protocols and institutions are better served with custody that’s proven to be resilient and regulated at the highest level,” said Diogo Mónica, president and co-founder of Anchorage Digital. “We’re pleased to custody FLY and meet the Flycoin team’s standards.” 

Current Flycoin partners include BitGo, ThanksAgain, Northern Pacific Airways, Ravn Alaska, and the Anchorage Economic Development Corporation (AEDC).