Anchorage, a US-based digital assets company, has raised $80m in Series C funding round to expand its digital bank services offering.
Led by Singapore’s sovereign wealth fund – GIC, the funding round saw the participation of a16z, Blockchain Capital, Lux, and Indico.
Anchorage intends to use the new investment to rapidly scale its operations to address the increasing demand for participation in the digital asset space.
Anchorage Blockchain Capital co-founder and managing partner W Bradford Stephens 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.”
The company is focused on enabling institutions to participate in digital asset space, including crypto-native financial products and services, from staking and governance, to financing and lending, to trading and DeFi.
The new funding round is expected to allow Anchorage in offering new ways for institutions’ participation, by bringing crypto to their users, by diversifying their corporate treasuries, and by enabling a range of emerging use cases.
Anchorage intends to provide at-launch support for new protocols, similar to the at-launch support it has provided for protocols like Celo, Filecoin, and Oasis.
The company said it would support organisations willing to participate in the digital asset space, by finding strategic ways to incorporate crypto into their operations.
In addition, the firm intends to become a crypto partner to neo banks, challenger banks, and traditional banks.
Furthermore, Anchorage expects to make institutional DeFi participation accessible, by offering custody support for DeFi tokens, bringing wrapped layer-one protocols to Ethereum, and supporting Bitwise for the first DeFi crypto index fund.
