Anchorage Digital eyes $400M raise as IPO speculation grows
Anchorage Digital, the first US federally chartered digital asset bank, may raise up to $400 million amid rumors of a potential IPO and rising competition from crypto companies obtaining banking licenses.
According to Bloomberg, crypto bank Anchorage Digital plans to raise between $200 million and $400 million ahead of a possible initial public offering (IPO) expected as early as “next year.”
Market observers note that Anchorage, which was last valued at $3 billion, appears increasingly prepared for a public listing—particularly as competitors such as BitGo move closer to their own IPOs.
In recent months, Anchorage has actively diversified its business, including expanding its asset management division through the acquisition of Securitize for Advisors and entering the token lifecycle management market by acquiring Hedgey. The company has also made notable moves in the stablecoin and venture capital sectors.
Anchorage was founded in 2017 by Diogo Mónica and Nathan McCauley. The firm is backed by investors including Apollo, Goldman Sachs, and KKR, and raised $350 million in a Series D funding round in 2021.
Potential IPO amid growing competition
According to The Block, the crypto custodian— which became the first federally chartered digital asset bank in 2021—now faces increasing competition from new entrants. The Office of the Comptroller of the Currency has granted conditional approvals to Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos to convert into trust banks.
Meanwhile, custody competitor BitGo filed for an IPO earlier this week, while exchanges such as Europe-based Bitpanda, US-based Kraken, and Hong Kong’s HashKey are also pursuing public listings in their respective markets.
Market watchers have long speculated that Anchorage, the first federally regulated digital asset bank, has been considering going public, although the company has historically declined to comment on such plans.
As we wrote, Anchorage acquires Hedgey, expands into full token lifecycle management
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