Apollo Global Management, an American global private equity firm with over $512 billion assets under management, has started hodling cryptocurrencies for its clients.
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According to a report from Reuters, the new service was built in a partnership with crypto custodian Anchorage Digital. Diogo Mónica, president of Anchorage Digital, said that the partnership is the brightest evidence that the large institutions don’t really care about the notorious crypto volatility in the short term.
Although Apollo declined to disclose what cryptocurrencies it holds, the New York-based firm revealed that its relationship with Anchorage started in the middle of 2021, when it was seeking the best option to safeguard its clients’ crypto assets. In addition to the partnership, Apollo also supported Anchorage in its Series D funding round.
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