Anchorage

Anchorage Digital, operated through wholly-owned subsidiaries of Anchor Labs, Inc. (a Delaware corporation), is a digital asset platform for institutional clients. Its platform is organized into three areas: prime services (custody, including qualified federally regulated safekeeping and self-custody; trading execution and settlement across venues; staking and rewards), financial infrastructure (fiat banking with USD accounts, wires and ACH from a chartered bank; the Atlas real-time settlement network; a wealth management solution; and banking services including "agentic banking"), and stablecoins (regulated stablecoin issuance, tokenized deposits, and an interbank layer for cross-border USD stablecoin transfers for banks). Additional offerings include token generation events and token management, and self-custody DeFi access.

The group comprises Anchorage Digital Bank N.A., which received a federal charter from the Office of the Comptroller of the Currency in January 2021 and is described as the first federally chartered crypto bank in the US; Anchorage Digital Singapore, licensed by the Monetary Authority of Singapore as a Major Payment Institution; Anchorage Digital New York, which holds a BitLicense from the New York Department of Financial Services; and Porto by Anchorage Digital, a self-custody wallet. Agency trading services are provided by Anchorage Hold LLC, and A1 Ltd. operates as a principal trading business. Anchorage Digital Bank offers fiat custody services through an FDIC-insured licensed sub-custodian; digital assets held in custody are not covered by FDIC, SIPC or SDIC protections.

The company states it secures tens of billions of dollars in digital assets for institutions and reports a valuation of $4.2 billion, with investors including Andreessen Horowitz, GIC, Goldman Sachs, KKR and Visa.

Founding story

Founded in 2017 in San Francisco by Diogo Mónica and Nathan McCauley, security engineers who began by addressing institutional crypto custody, aiming to make it safe for institutions to hold and use crypto.

Business model

Anchorage Digital sells regulated digital asset infrastructure and services to institutions on a single integrated platform, spanning custody and self-custody, trading and financing, staking and rewards, settlement, fiat banking, wealth management, and stablecoin issuance and correspondent banking. It also runs a ventures arm referenced on its site.

Sources do not state pricing or revenue mechanics; the company provides institutional custody, trading, staking, banking and settlement services and has a principal trading business (A1 Ltd.) and agency trading entity (Anchorage Hold LLC).

Traction

Reported securing tens of billions of dollars in digital assets and serving many of the largest institutions; 2021 milestones included the OCC charter, facilitating Visa's purchase of CryptoPunk #7610, headcount growth of 175% during 2021 to date, and business growth in excess of 800% in each of the two preceding years. Valuation reported at $4.2 billion.

Latest developments

Recent announcements referenced on the company's site include the launch of agentic banking with a Google Cloud partnership, tokenized deposit infrastructure for banks providing 24/7 settlement without replacing core systems, positioning as the institutional home for Hyperliquid, and a $100 million strategic investment from Tether with a first-ever employee tender offer at a $4.2 billion valuation.