After getting federal banking charter last month, cryptocurrency banking company Anchorage raised $80m in a Series C funding round.
Led by Singaporean sovereign wealth fund GIC, the round saw participation from a16z, Blockchain Capital, Lux, and Indico. With the latest Series C round, Anchorage’s total funding to date comes to $137m.
With the fresh capital, Anchorage aims to expand its crypto custody and banking services among neo banks, challenger banks and traditional banks therefore enabling institutions to increase involvement in the digital asset space.
As cryptocurrencies – in specific bitcoin – continue to get increasingly popular among traditional financial institutions, the crypto custodian firm aims to support corporates interested in the addition of digital currencies to their balance sheets.
Given the sudden institutional and mainstream adoption of digital assets, the firm said the new round will also be used in helping institutions bring crypto to their users by diversifying their corporate treasuries and by enabling a wide range of emerging use cases.
Anchorage earned the status of becoming the first crypto custodian in the US to receive a federal charter from the US Treasury’s Office of the Comptroller of the Currency in January 2021.
Alongside including crypto-native financial products and services, the FinTech firm is also looking to scale in other areas such as staking, governance, financing, lending, trading and DeFi, it said.
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