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If your organization serves its own end clients — whether businesses (B2B2B) or consumers (B2B2C) — you can build on top of Anchorage Digital’s existing organization model. Vaults and wallets with configurable permissions give you the building blocks to segregate, fund, and govern accounts for the clients you serve, without standing up a parallel ledger of your own.

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Key concepts

A few terms used throughout, defined precisely because they’re easy to conflate. Both USD and crypto sit on the same organization model — you segregate end clients using vaults and wallets, regardless of asset type.
  • FBO account — a “for benefit of” arrangement where you hold the account relationship, and the funds within it belong to your end clients. You are the account holder of record.
  • End client — the client of our client. The party you serve in a B2B2X relationship.
  • Vault — the top-level container in the organization model. Carries its own permission set and governance (quorum, approvers). See Vaults & wallets.
  • Wallet — sits inside a vault and holds a single asset. Every wallet maintains a true balance and transaction history.
A vault holds at most one USD wallet and any number of crypto wallets. This means USD segregation happens at the vault level (one USD wallet each), while crypto can be segregated by adding wallets within a vault.

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How USD and crypto deposits differ

USD deposits arrive as wire transfers, which carry a name, address, and routing and account numbers. The deposit instructions on a USD wallet today resolve to your organization’s legal name as the account holder of record. Named accounts — where deposit instructions bear the end client’s name — are in development. Crypto deposits are wallet addresses that follow the chain’s standard. There’s no name or bank identity attached, so segregation is handled entirely by which wallet maps to which end client.

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Structures available today

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Segregated vaults and wallets

This is the structure most B2B2X organizations use and the one we recommend. Each end client gets their own vault and wallet, so balances are segregated natively. You don’t build or maintain a ledger on top. How it works:
  1. Submit a KYC package for the end client to Anchorage Digital’s compliance team.
  2. Once compliance approves, create a vault in the end client’s name with a dedicated wallet.
  3. The wallet holds a real balance. Deposit instructions on the wallet resolve to your legal name as the account holder of record.
Recommended setup pattern: Because compliance approval is the gating step and vaults today hold a single USD wallet, the cleanest pattern is to pre-provision vault shells:
  1. Create vaults in advance as empty shells — unfunded, unnamed, and not exposed to the end client.
  2. Pre-assign each vault the permission set you want to govern it (quorum, approvers).
  3. Upon KYC approval, name the vault to the end client and put it into use. The USD wallet already exists from vault creation; add crypto wallets as needed.
This keeps you ready to onboard quickly while ensuring no end client can transact before compliance has cleared them.

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Omnibus plus your own sub-ledger

If you’re approved for a KYC reliance arrangement, you can hold pooled funds in a single account and run your own sub-ledger to track each end client’s balance. Two conditions apply:
  1. Reliance approval. Anchorage Digital’s compliance team must approve a reliance arrangement, relying on your KYC program for your end clients. This is granted case by case.
  2. You maintain the sub-ledger. Anchorage Digital tracks the pooled balance. Per-end-client balances are yours to maintain.
Under reliance, deposits arrive into your account in your name. Anchorage Digital doesn’t see which end client each deposit belongs to — that attribution lives in your sub-ledger.
Most organizations that want native per-end-client identification without running their own sub-ledger are better served by segregated vaults and wallets today, or by named accounts once available.

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Choosing your structure

  • You want Anchorage Digital to segregate and KYC each end client, with real per-client balances: segregated vaults and wallets. Recommended for most organizations.
  • You’re a large platform that wants one account and will run your own sub-ledger, and you can qualify for reliance: omnibus plus reliance.
  • You need end clients to receive wires in their own name: named accounts, once available. Use segregated vaults and wallets in the meantime.

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What’s coming

  • Named accounts — sub-accounts that carry the end client’s own name and deposit instructions, so end clients receive wires addressed directly to them. In active development.
  • True virtual accounts — pass-through deposit instructions in the end client’s name where Anchorage Digital doesn’t maintain the end client’s balance. A known future need, not currently being built.
If a true virtual account or native sub-ledger is a hard requirement, contact your Anchorage Digital relationship manager so we can factor it into prioritization.