Anchorage Digital and XFX Partner to Modernize Global FX Through Atlas

Cross-border money movement still runs on infrastructure built for a different era. Pre-funded nostro and vostro accounts, banking hours, and settlement cycles that stretch over days leave trillions in capital parked idle just to guarantee execution. For institutions moving money globally, that is not a minor inefficiency — it is the dominant cost.

We built XFX to change that, and we’ve partnered with Anchorage Digital to join their Atlas settlement network, enabling faster, more capital-efficient cross-border transfers for institutional clients on a regulated platform.

Through this partnership, XFX accesses U.S. banking infrastructure and integrated USD and stablecoin rails via Anchorage Digital Bank N.A. We continue to handle FX execution, liquidity routing, and downstream settlement and distribution. Clients onboarded to Anchorage Digital through XFX can access instant, always-on USD transfers via the Atlas settlement network.

The practical result is one relationship for both fiat and stablecoin operations, instead of the fragmented model where institutions had to manage separate banking and crypto partnerships to move value across borders.

Why Atlas, and Why Now

Settlement remains one of the most persistent frictions in institutional markets. Atlas is built to address it directly — enabling rapid settlement between trusted participants, reducing counterparty exposure, and improving capital efficiency along the way.

For XFX, being part of Atlas is a natural extension of what we already do. We unify fiat and onchain liquidity into a single principal-to-principal venue, delivering best-in-class execution, fast settlement, and no capital pre-positioning. Atlas gives us the regulated, institutional-grade settlement rails to extend those capabilities to cross-border flows at scale.

"FX is fascinating in that it remains one of the financial verticals still running on technology largely unchanged since the late 1970s. We're now seeing an accelerated transition to onchain infrastructure and asset-agnostic settlement across fiat currencies and stablecoins — and that will unlock significant value for the institutions that move money globally. Atlas by Anchorage Digital gives us the regulated, institutional-grade rails to build on that shift."

— Santiago Alvarado, Co-founder and CEO, XFX

What This Means for Institutions

By leveraging Anchorage Digital's federally regulated platform, XFX can focus on what we do best — FX execution and liquidity routing — while relying on institutional-grade U.S. banking and always-on settlement infrastructure.

"Institutions moving money across borders need settlement infrastructure that is fast, capital-efficient, and built on regulated custody. Atlas was designed to meet that need by connecting trusted market participants through secure settlement rails, and XFX's participation extends those benefits to cross-border transfers."

— Nathan McCauley, Co-Founder and CEO, Anchorage Digital

For financial institutions, exchanges, market makers, payment platforms, and corporates, the combination means:

• Faster settlement across borders, without waiting on banking hours or multi-day correspondent chains
• Greater capital efficiency, with capital moving only when the trade does — not parked in pre-funded accounts
• Unified fiat and stablecoin rails, through a single regulated relationship rather than parallel banking and crypto setups
• Institutional-grade infrastructure, built on federally chartered custody and settlement

Interested in learning more about XFX or how to access our liquidity and settlement infrastructure? Get in touch with our team.

About XFX

XFX delivers institutional FX execution and settlement infrastructure, unifying fiat and stablecoin liquidity into a single principal-to-principal venue. Clients get best price and deep liquidity across fiat and stablecoin networks with near-instant settlement, and no capital pre-positioning — capital moves only when the trade does. By sitting in the middle of the capital flow, XFX absorbs the complexity of multiple counterparties into one legal relationship, one settlement obligation, and one audit trail. XFX is backed by Castle Island Ventures, Haun Ventures, Coinbase Ventures, and Oak HC/FT. 

Learn more at www.xfx.io. 

About Anchorage Digital

Anchorage Digital is a global crypto platform that enables institutions to participate in digital assets through trading, staking, custody, governance, settlement, stablecoin issuance, and the industry’s leading security infrastructure. Home to Anchorage Digital Bank N.A., the first federally chartered crypto bank in the U.S., Anchorage Digital also serves institutions through Anchorage Digital Singapore, which is licensed by the Monetary Authority of Singapore; Anchorage Digital NY, which holds a BitLicense from the New York Department of Financial Services; and self-custody wallet Porto by Anchorage Digital. Anchorage Digital Bank also offers fiat custody services through the use of an FDIC-insured, licensed sub-custodian. Anchorage Digital is funded by leading institutions including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with a valuation of $4.2 billion. Founded in 2017 in San Francisco, California, Anchorage Digital has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota.

Learn more at anchorage.com, on X @Anchorage, and on LinkedIn.