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

in Business, Tech · 26-02-2021 15:16:00 · 0 Comments

Anchorage has raised an $80 million Series C, led by GIC, Singapore’s sovereign wealth fund, with participation from a16z, Blockchain Capital, Lux, and Indico Capital Partners.

This new capital will allow the company to rapidly scale to meet the rising demand for participation in the digital asset space, particularly among corporations and traditional financial institutions.

W. Bradford Stephens, Co-Founder and Managing Partner, 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.”

Stephan Morais, Managing General Partner, Indico Capital Partners, added: "Anchorage is at the forefront of decentralised finance by addressing the needs of large institutional investors that are moving steadily into digital financial assets and services. The expansion of blockchain technology, sometimes confused with a bet on digital currencies, is really a change of computational paradigm, a revolution equivalent to the appearance of personal computers, the internet of smartphones. All systems will change in the next decade and we are happy to support Anchorage in its path to become a major global company in the new financial sector that is being invented right now."

This new round of funding will be used by the company to 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.




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