Home News Anchorage Digital raised $350M at $3B valuation

Anchorage Digital raised $350M at $3B valuation


Anchorage Digital, a crypto platform focused on institutional clients, has closed a Series D funding round of $350 million at a valuation of $3 billion. KKR led the round, writes Reuters.

Goldman Sachs, Andreessen Horowitz (a16z), Alameda Research, Apollo, Wellington Management, BlackRock, Blockchain, Kraken and PayPal Ventures also provided funding.

Thus, licensed by the Office of the Comptroller of the Currency (OCC) as part of the U.S. Treasury, the crypto platform offers storage, staking, lending and trading of digital assets, as well as infrastructure solutions. In the future, the expansion of this line is not excluded, in particular on decentralized finance (DeFi).

The company has no plans for an initial public offering

Anchorage will direct the funds received to international expansion and support initiatives of banks and corporations to create cryptocurrency products for customers. In an interview with Decrypt, Chief Executive Officer Diogo Monica predicted that this could happen in the second half of 2022.

According to the company, its customer base grew by 96% in 2021. Moreover, the storage of digital assets generates less than 50% of revenue; against the background of the development of other business lines.

According to the CEO, Anchorage has no plans for an initial public offering (IPO).

Allowing clients to diversify their reserves

Earlier in February, Anchorage raised $80 million from the sovereign wealth fund of Singapore. Blockchain Capital, a16z, Lux and Indico also participated in the funding.

At that time, Anchorage planned to invest in the following goals: support for new protocols at their launch; assistance to corporations in using cryptocurrencies; ensuring the security and seamless crypto lending; scaling and expanding the product line; finding partners among a wide range of financial institutions; facilitating entry into the DeFi sector for institutions.

Recall that Visa announced the testing of a solution for the integration of crypto payments by banks in April. Anchorage is acting as a partner.

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