Crypto bank Anchorage Digital eyes $400M raise with IPO in sight: Report

Anchorage Digital, the San Francisco-based institutional digital asset bank, is reportedly targeting a significant new funding round, aiming to raise approximately $400 million. This strategic move is widely viewed by industry observers as a critical preparatory step toward the company’s eventual Initial Public Offering (IPO).

Anchorage gained prominence in 2021 when it became the first cryptocurrency firm in the U.S. to receive a federal charter from the Office of the Comptroller of the Currency (OCC), solidifying its status as a federally regulated entity capable of serving major institutional clients.

Sources indicate that the capital raised would be directed towards aggressive global expansion, enhancing its technology platform, and further scaling its secure custody and DeFi services tailored for institutional investors. A successful $400 million raise would substantially increase Anchorage’s valuation, positioning it among the most highly valued private players in the institutional crypto custody sector.

The pursuit of such a large funding round highlights the continued institutional demand for regulated, secure gateways into the digital asset economy, even as the broader cryptocurrency markets navigate periods of volatility.

Source: Crypto bank Anchorage Digital eyes $400M raise with IPO in sight: Report