Flycoin Names Anchorage Digital as a Custodian for its token, FLY

Flycoin has taken another step to strengthen its infrastructure and security in safeguarding FLY

POMONA, Calif, July 5, 2022 /PRNewswire/ -- FlyCoin, Inc., a cryptocurrency-based travel rewards technology company, is pleased to announce that it will utilize Anchorage Digital to serve as the custodian of a significant portion of its minted cryptocurrency, FLY. Anchorage Digital is a regulated institutional platform and the first crypto company to receive a national bank charter from the Office of the Comptroller of the Currency (OCC).

"Flycoin only selects the most reputable and trusted custodians of cryptocurrency to properly safeguard FLY for us and our partners. We are excited to partner with Anchorage Digital, as currently, they are the only federally regulated custodian of digital assets. We selected Anchorage for its robust security and controls, and its ability to easily move funds without sacrificing security," stated Lenny Moon, Flycoin's CEO. Earlier in June, Flycoin also announced that it had partnered with Bitgo as its first custodian.

Custodians of digital assets, like Anchorage Digital, play an essential role in providing transparency to holders and keeping assets safe while transferred across brokers and exchanges. Anchorage's model allows institutions to transact with the same security architecture and controls of its custody model.

"We believe both protocols and institutions are better served with custody that's proven to be resilient, and regulated at the highest level. We're pleased to custody FLY and meet the Flycoin team's standards," said Diogo Mónica, President and Co-Founder Anchorage Digital.

Flycoin is leading the charge in moving the travel rewards industry toward a more customer-centric standards. It is growing and expanding an ecosystem of companies across the travel & hospitality industry, by enabling their customers to earn and redeem FLY, a cryptocurrency that provides the end-users greater utility and flexibility than the traditional loyalty point.

Current Flycoin partners include BitGo, Thanks Again, Northern Pacific Airways, Ravn Alaska, and the Anchorage Economic Development Corporation (AEDC).

Anchorage Digital is a regulated crypto platform that provides institutions with integrated financial services and infrastructure solutions. With the first federally chartered crypto bank in the US, Anchorage offers institutions an unparalleled combination of secure custody, regulatory compliance, product breadth, and client service. Founded in 2017, Anchorage is valued at over $3 billion and is backed by leading institutions including Andreessen Horowitz, GIC — Singapore's sovereign wealth fund, Goldman Sachs, KKR, and Visa. Headquartered in San Francisco, California, Anchorage is remote-friendly with offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. Learn more at anchorage.com, on Twitter @Anchorage, and LinkedIn.

FlyCoin is moving the evolution forward in loyalty programs by providing a cryptocurrency-based reward that is free from the limitations of traditional loyalty programs. FlyCoin's revolutionary technology infrastructure provides companies in the consumer loyalty space - including travel and hospitality, financial services, and more, with a powerful, turnkey solution to incentivize users in a more customer-centric way. Users can earn FlyCoin's newly minted token, FLY, reward doesn't expire, is easily transferable, and has an abundance of redemption options. Stay tuned and get project updates on Twitter. https://twitter.com/FlyCoinOfficial. For more information, please visit https://www.flycoin.org.

SOURCE FlyCoin, Inc.

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