Anchorage Digital Applies to Become a CFTC Registered Swap Dealer to Grow Its Crypto Options Business

Anchorage Digital has asked US regulators for permission to act as a swap dealer. The move is meant to widen its crypto options services for big clients, and it is now waiting on a decision.

What Anchorage Digital Has Filed

The application was submitted on Nov. 5 through the National Futures Association, using a new entity called Anchorage Digital Swap Dealer, LLC. Firms that deal in swaps above small thresholds must register with the CFTC, which brings rules on capital, risk controls, reporting and compliance. The NFA process includes a $15,000 non refundable fee.

Why Registration Matters to Institutions

Pension funds, asset managers and corporate treasuries often can only trade with regulated counterparties. A registered dealer can meet those internal requirements. Anchorage already offers trading, margin and structured products through Anchorage Hold, LLC.

Anchorage Digital Background and Credentials

The company launched in 2017 under Diogo Mónica and Nathan McCauley and is valued at $4.2 billion. In January 2021 it became the first crypto focused firm to win a federal national bank charter, and it also holds a New York BitLicense. A 2022 consent order over anti money laundering issues was lifted in 2025.

Approval is not guaranteed, and no review timeline has been given. Capital rules and constant reporting duties would add cost even after approval.