Anchorage raises $80 million Series C to expand digital bank services

Anchorage Digital Bank National Association (Anchorage), the premier digital asset platform for institutions, announced that it has raised an $80 million Series C, led by GIC, Singapore's sovereign wealth fund, with participation from a16z, Blockchain Capital, Lux, and Indico, which enables it to expand digital bank services.

According to the official announcement, Anchorage says that the new capital will help them 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, they expect to offer at-launch support for new protocols; support emerging corporate use cases; make crypto lending seamless and secure. 

W. Bradford Stephens, Co-Founder and Managing Partner of Blockchain Capital 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."

​Anchorage is the financial platform and infrastructure provider for the digital asset space. Founded in 2017, the company aims to meet the growing need for institutional custody that lets investors safely hold and use crypto. Headquartered in San Francisco, California, with offices in Porto, Portugal and Sioux Falls, South Dakota, the Anchorage team is constantly growing.