Anchorage Digital seeks $200–$400M raise as it eyes IPO next year

Institutional crypto platform Anchorage Digital is looking to raise between $200 million and $400 million and is considering a potential initial public offering sometime next year, Bloomberg reported, citing people familiar with the matter who asked to remain anonymous. Anchorage's affiliate, Anchorage Digital Bank National Association, became the first federally chartered crypto bank in 2021 and is now described as well-positioned to lead stablecoin issuance and related services following passage of the GENIUS Act in July.

CEO Nathan McCauley said in September he planned to double the company's stablecoin team over the next year to accommodate an expected boom in digital dollars. An Anchorage spokesperson told Bloomberg, "2025 was our year of scale. We made a series of acquisitions, inked major partnerships, and launched new business lines like stablecoin issuance to solidify our lead in institutional crypto." The firm has announced a partnership with Tether to launch a USAT token in the US and provides custody, trading and staking services for banks, hedge funds and venture capital firms.

In December it expanded its wealth management arm through the acquisition of Securitize For Advisors and integrated Hedgey for token lifecycle management. Anchorage previously secured $350 million in funding in late 2021 led by KKR, with participation from Goldman Sachs, GIC and Apollo credit funds, and its valuation was marked at over $3 billion at the time.

Key Topics

Crypto, Anchorage Digital, Anchorage Digital Bank, Nathan Mccauley, Tether, Usat Token