Anchorage Digital, a crypto custody provider that received a federal trust bank charter a year ago, is continuing its growth trajectory with a $350 million Series D investment, the company announced Wednesday.
The funding round was led by the investment firm KKR. Participants included Goldman Sachs, Alameda Research, PayPal Ventures and more than a dozen others.
This latest infusion of cash values Anchorage at more than $3 billion. The San Francisco company will use the funding to bolster its infrastructure, further engage its clients in crypto innovation and hire more employees to expand its product set, the company said.
Anchorage offers a range of services, including digital asset custody, trading and staking (or locking up crypto for a period of time to earn rewards). In November it partnered with the core provider Finxact to allow the company's bank clients potentially to offer their customers a way to buy, sell and hold cryptocurrency through their bank.
“As more and more institutions look to add crypto services into their offerings, we find ourselves at an inflection point,” Diogo Mónica, president and co-founder of Anchorage Digital, said in a press release. “This funding positions Anchorage Digital to meet the unprecedented institutional demand for this rapidly evolving market.”
Anchorage received conditional approval for a national trust bank charter from the Office of the Comptroller of Currency in
“We are certain Anchorage will be a crucial part of the digital asset infrastructure and we are excited to be an investor,” Oli Harris, head of North America Digital Assets at Goldman Sachs, said in the release.
