Anchorage Digital has enhanced its Atlas network by introducing institutional crypto collateral management, aiming to streamline lending against cryptocurrencies while mitigating operational and counterparty risks. The expanded network now supports nearly 600 participants, a fourfold increase from the previous year, and has processed tens of billions in settlements. This development positions Atlas as a regulated, always-on system for managing collateral, issuing margin calls, and handling liquidations across various credit arrangements. Originally launched in April 2024 as a settlement layer for digital assets, Atlas has evolved into a comprehensive platform for triparty custody and collateral workflows. This expansion aligns with Anchorage Digital's strategy to establish itself as a regulated infrastructure provider for institutional crypto finance. The move comes amid a broader trend of federally regulated crypto banking, with the OCC recently approving national trust bank charters for several crypto firms. Anchorage's Atlas network is already utilized by firms like Cantor Fitzgerald, Spark, and Kamino for collateral management and custody services.