Anchorage Digital, the federally chartered crypto bank valued at $4.2 billion, has acquired a strategic stake in SLX, the native token of Solstice Finance, a Solana-based protocol that provides institutional-grade yield infrastructure. The purchase came shortly after Solstice completed its token generation event.
The investment puts Anchorage alongside more than 30 institutions already allocating capital through Solstice’s ecosystem, including Bullish, Bitcoin Suisse AG, Fasanara Capital, and RockawayX.
How the two firms are connected
The relationship between the two firms runs through the Global Dollar Network, a Paxos-led consortium of over 100 institutions working to build a regulated digital dollar ecosystem. Both Solstice and Anchorage participate in GDN.
The network’s stablecoin, USDG, is one of the collateral assets backing USX, the overcollateralized stablecoin used within Solstice.
