Anchorage Raises $80 Million Series C to Expand Digital Bank Services
Led by GIC, with a16z, Blockchain Capital, Lux, and Indico
Diogo Mónica and Nathan McCauley
Today, we are pleased to announce that Anchorage has raised an $80 million Series C, led by GIC, Singapore’s sovereign wealth fund, with participation from a16z, Blockchain Capital, Lux, and Indico. This new capital will allow us to rapidly scale to meet the rising demand for participation in the digital asset space, particularly among corporations and traditional financial institutions.
“Anchorage has gone through a brilliant metamorphosis — from a world-class custody solution, to the standard-bearer for crypto banking. In just a few short years, they’ve already been a powerful, catalytic force for institutional adoption, regulatory confidence, and overall maturation of the space. We’re proud to lend our support as they continue to push the industry forward — and the financial systems together.”
-W. Bradford Stephens, Co-Founder and Managing Partner, Blockchain Capital
At Anchorage, our focus has always been enabling institutions to participate in the digital asset space. At first, participation meant secure custody you can use. It has since grown to mean a wide range of crypto-native financial products and services, from staking and governance, to financing and lending, to trading and DeFi. Today, with banks and corporations seeking exposure to the space for themselves and for their customers, we expect the meaning of participation to expand once again.
This new round of funding will help us help institutions participate in new ways — by bringing crypto to their users, by diversifying their corporate treasuries, and by enabling a wide range of emerging use cases. In the coming months, we expect to:
- Offer at-launch support for new protocols. Anchorage has always been committed to supporting all assets that meet our standards for quality and security. We will continue to invest in broad asset support, as well as the kind of at-launch support we have provided for protocols like Celo, Filecoin, and Oasis.
- Support emerging corporate use cases. Corporations are increasingly adding crypto to their balance sheets. Anchorage is committed to supporting organizations looking to participate in the digital asset space, from supporting corporate treasuries, to finding strategic ways to incorporate crypto into their operations.
- Make crypto lending seamless and secure. Institutions want to generate yield on their crypto holdings in a way that is easy and secure. We plan to scale our lending product and operations, diversifying loan types and giving lenders a truly seamless and secure lending experience.
- Be a crypto partner to neo banks, challenger banks, and traditional banks. Being the first national bank places us at the overlap of two systems — the legacy financial system, and the emerging world of digital assets. We’re committed to partnering with a wide range of financial institutions to make it easy and secure to offer crypto services.
- Make institutional DeFi participation accessible. Anchorage has been an early proponent of DeFi, offering custody support for many DeFi tokens, bringing wrapped layer-one protocols to Ethereum, and supporting Bitwise in the launch of the first DeFi crypto index fund. In the coming years, we look forward to facilitating greater institutional participation in the space.
We’d like to thank everyone in the wider Anchorage network — from clients and investors, to partners and regulators, to each and every member of our quickly growing team — for their role thus far in making Anchorage what we are today. If you’d like to learn more about Anchorage, please get in touch.
Holdings of cryptocurrencies and other digital assets are speculative and involve a substantial degree of risk, including the risk of complete loss. There can be no assurance that any cryptocurrency, token, coin, or other crypto asset will be viable, liquid, or solvent. No Anchorage communication is intended to imply that any digital asset services are low-risk or risk-free. Digital assets are held in custody by Anchorage Digital Bank National Association and are not guaranteed or FDIC-insured. All loans are made or arranged by Anchorage Lending CA, LLC pursuant to California Finance Lenders Law License № 60DBO-119768. Any depictions of simulated or past loan performance are not necessarily indicative of future results.
