Anchorage Digital, the first federally chartered digital asset bank, is reportedly exploring a $200 million to $400 million capital raise ahead of a potential initial public offering (IPO) targeted for next year, according to Bloomberg. The firm was last valued at $3 billion, positioning it as a key player in the institutional crypto market.
Expansion and Diversification Strategy
In recent months, Anchorage has broadened its operations, including the acquisition of Securitize For Advisors to expand its wealth management services and integration of Hedgey to manage token lifecycles. The bank has also made strategic moves in the stablecoin sector and venture capital investments, reflecting its ambition to strengthen its foothold across crypto services.
IPO Trend in Crypto Custody Space
Anchorage is joining a wave of crypto companies preparing to go public. BitGo recently filed IPO documentation, while exchanges such as Kraken, Bitpanda, and HashKey are also considering public offerings in their respective markets. Anchorage’s federal charter and diverse offerings make it well-positioned for an IPO, especially amid growing institutional interest in regulated digital asset banks.
The firm faces rising competition as the Office of the Comptroller of the Currency (OCC) has granted conditional approvals for Circle, Ripple, Fidelity Digital Assets, and Paxos to operate as trust banks. Anchorage, founded in 2017 by Diogo Mónica and Nathan McCauley, is backed by Apollo, Goldman Sachs, and KKR and previously raised $350 million in a Series D round in 2021.
Anchorage’s potential IPO reflects the broader institutionalization and maturity of the crypto banking sector.
Disclaimer
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