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March 1, 2021

US crypto bank Anchorage rakes in $80m in Series C funding round

Anchorage, a newly approved crypto bank in the US, has secured $80m in Series C financing round, which was led by Singapore’s sovereign wealth fund GIC.

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The funding round was also joined by Andreessen Horowitz, Blockchain Capital, Lux and Indico.

Anchorage president Diogo Mónica in a statement said: “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, which is based in San Francisco, is the first crypto native to receive a federal banking charter from the Office of the Comptroller of the Currency (OCC).

Blockchain Capital co-founder and managing partner W. Bradford Stephens said: “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.”

The company said that it intends to enable corporations add crypto to their balance sheets and treasuries over the coming months.

It will use the fresh capital to scale its lending business and collaborate with neobanks, challenger banks and traditional banks.

Free Report
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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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