Singapore’s Sovereign Wealth Fund Leads Digital Asset Bank Anchorage’s $80M Series C Round
Anchorage has raised $80 million in a Series C round led by Singapore’s sovereign wealth fund GIC with participation from a16z, Blockchain Capital, Lux, and Indico.
“Largest sovereign wealth funds leading rounds in global crypto-asset custodians,” commented Su Zhu, chief executive officer, and chief investment officer at Three Arrows Capital.
Earlier this year, Anchorage received a national trust charter from the Office of the Comptroller of the Currency (OCC), making it the first federally chartered digital asset bank in history.
“Anchorage has gone through a brilliant metamorphosis — from a world-class custody solution to the standard-bearer for crypto banking,” said W. Bradford Stephens, Co-founder and Managing Partner of Blockchain Capital.
“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.”
Now it is raising funds to expand its digital bank services with a focus on enabling institutions to participate in the digital asset space.
The firm laid down its five key goals for the year ahead, including offering at-launch support for new protocols. It will also continue to invest in broad asset support, just as with Filecoin, Oasis Protocol, and Celo.
Anchorage has already been seeing an “influx of interest” ever since it obtained the charter and helping organizations participate in digital assets through corporate treasuries and endowments.
As a bank, the focus is also to make crypto lending even more seamless and secure, and they further plan to scale its lending products and operations.
Besides partnering with neo banks, challenger banks, and traditional banks, the idea is to make institutional DeFi participation accessible.