Anchorage Raises $350M to Develop Crypto Choices

Anchorage Raises $350M to Develop Crypto Choices

The lift provides Anchorage a $3 billion valuation.

Anchorage Digital has raised $350 million in a funding round led by KKR.

Anchorage Closes Series D Funding Spherical

U.S.-primarily based digital sources firm Anchorage Digital has raised $350 million in a Series D funding round.

The firm shared little print of the lift in a Wednesday weblog publish. It used to be led by investment firm KKR, whereas Goldman Sachs, Alameda Compare, Andreessen Horowitz, Apollo, and others moreover participated. The lift provides the firm a valuation of over $3 billion and follows a GIC-led $80 million Series C round, which took put of abode in February 2021.

Diogo Mónica, the President and co-founding father of Anchorage Digital, stated of the lift:

“As extra and extra institutions look for to add crypto products and services into their choices, we win ourselves at an inflection level. This funding positions Anchorage Digital to satisfy the extra special institutional request of for this without note evolving market.”

Anchorage lets institutional avid gamers perform crypto exposure. It provides a fluctuate of products and services alongside side custody, trading, and staking for crypto sources admire Bitcoin and Ethereum.

Per the announcement, the firm plans to deploy the capital to amplify its solutions catering to global financial and fintech firms. The freshly-raised capital will moreover be damaged-down to amplify its team.

In January 2021, Anchorage made headlines when it grew to become the foremost crypto firm to build up a banking structure from the Office of the Comptroller. It moreover helped Visa perform its CryptoPunk NFT in August.

Anchorage’s funding news comes as mountainous sums of capital flood into the crypto home. The old day, NYDIG, one other crypto firm focusing on the institutional market, supplied it had raised $1 billion in a funding round led by WestCap. The firm stated it can expend the funds to invent institutional-grade Bitcoin products.

Disclosure: On the time of writing, the creator of this piece owned ETH and other cryptocurrencies. 

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