By
Bhushan Akolkar
April 12th, 2024
According to Anchorage Digital, the company will spend the capital it raised in the Series D round to integrate digital assets into the global economy. In particular, Anchorage is planning to provide custom crypto infrastructure solutions for its global financial services and fintech clients.
Anchorage Digital, the company behind a regulated platform designed to facilitate simple and secure participation in digital assets, all integrated with custody, announced it had raised as much as $350 million in a Series D funding round. The round brings the company’s total funding to date to over $485 million, with its valuation soaring to over $3 billion.
Anchorage Digital Series D Funding Round
The key participants included Goldman Sachs Group Inc. (NYSE: GS), Alameda Research, Andreessen Horowitz, Apollo credit funds, Blockchain Capital, Delta Blockchain Fund, Elad Gil, GIC, GoldenTree Asset Management, Innovius Capital, Kraken, Lux Capital, Senator Investment Group, Standard Investments, Thoma Bravo, and Wellington Management.
According to Anchorage Digital, the company will spend the capital it raised in the Series D round to integrate digital assets into the global economy. In particular, Anchorage is planning to provide custom crypto infrastructure solutions for its global financial services and fintech clients. Besides, it will enable institutions to navigate the latest trends in crypto and its quickly evolving financial landscape. Anchorage is also going to expand its team, taking advantage of its strategic partnerships.
Anchorage Digital is especially proud of its collaboration with KKR and Goldman Sachs. In its blog post, Anchorage stated:
“When we first started Anchorage, we solved for custody with the most secure and safest platform for institutions on the market. Today, our suite of offerings has expanded to include prime brokerage services and custom API integrations for institutions interested in digital assets. We are at an inflection point as more and more institutions look to add crypto services into their offerings. This funding positions Anchorage to meet the unprecedented institutional demand for this rapidly changing market.”
Notably, less than a year ago, Anchorage conducted a Series C funding round. At that time, Anchorage raised $80 million, mainly from Singapore’s sovereign wealth fund, GIC.
Anchorage CEO: Banks Will Offer Crypto By the End of 2022
As Anchorage CEO Diogo Monica said, the company’s business has been growing “incredibly fast,” with more and more financial institutions entering the crypto space. By the end of 2022, Monica predicts banks will begin to come with crypto offerings. First of all, it will be the ability to buy and sell Bitcoin (BTC). Monica said:
“Institutions began to build products in 2020 that will come to market in mid-to-late 2022.”
Anchorage has already benefited from the growing range of crypto assets that institutions are looking to park with the company. Among them are non-fungible tokens (NFTs) like CryptoPunks that Anchorage is holding in custody for Visa Inc (NYSE: V) as well as others. In the nearest future, Anchorage is also expecting to develop new lines of business as banks will seek to offer DeFi-based products.