Anchorage and Tokensoft have partnered to launch Wrapped, a service that creates digital representations of blockchain assets on the Ethereum network. In this partnership, Anchorage will provide custody of the underlying assets as a qualified custodian. Tokensoft, the leading technology platform for companies issuing digital assets, administers the digital representation of the asset on the Ethereum network. The first asset launched is Wrapped Zcash (WZEC), a cryptocurrency that uses cryptography to provide enhanced privacy for its users.
"By bringing new liquidity sources into DeFi, and enabling users to benefit from those qualities that make layer one protocols unique, Wrapped is a boon for both market participants and the broader ecosystem. We're proud to put the Anchorage platform to use securing the underlying assets, and to be working together with Tokensoft to bridge Ethereum and layer one protocols." -Nathan McCauley, Anchorage Co-Founder and CEO
The WZEC smart contract is based on ERC-1404, a smart contract standard developed by Tokensoft that allows for the free transfer of WZEC along with incorporation of applicable compliance requirements globally. The availability of WZEC on the Ethereum network enables the following benefits for holders of Zcash:
“We’re looking forward to enabling a more interoperable form of Zcash with WZEC. Users of WZEC will have the ability to use their Zcash in a variety of DeFi applications. Additionally, exchanges will now be able to hold Zcash while meeting their compliance requirements.” - Mason Borda, CEO of Tokensoft Inc.
The Wrapped service is designed to service any blockchain asset. Blockchain assets currently in consideration include but are not limited to Handshake, Avalanche and Celo. Those interested in getting access to Wrapped Zcash can register at https://www.wrapped.com today.
Tokensoft is a leading technology platform for blockchain-enabled securities based in San Francisco, CA. The Tokensoft platform enables forward-thinking enterprises, asset managers, and financial institutions to fundraise, manage investors, and access secondary market liquidity using the blockchain. The Tokensoft platform has processed investors in over 50 countries and Tokensoft customers have raised or managed over a billion USD.
Anchorage is the most advanced digital asset platform for institutional investors. From custody and trading, to staking, governance, and financing, Anchorage offers a full range of crypto-native financial solutions that are compliant, built to adapt to emerging blockchain use cases, and made to evolve alongside the needs of digital asset investors. Today, Anchorage serves many of the largest institutional investors and enterprise brands in the digital asset space.