Anchorage Digital is considering a new capital raise as the crypto custodian explores a potential public listing. This move signals growing confidence among regulated digital-asset firms, even amidst recent market volatility.
The New York-based company, whose affiliate operates the first federally chartered digital-asset bank in the U.S., is reportedly looking to raise between $200 million and $400 million. This fundraising effort could precede a possible initial public offering (IPO) as early as next year, according to a Bloomberg report.
Sources familiar with the matter indicated that the timing and valuation for the capital raise and potential listing are still under discussion. Anchorage Digital has declined to comment on its fundraising plans or a potential listing.
Stablecoin Regulation Reshapes Growth Plans
Anchorage's strategic expansion is occurring as stablecoins become increasingly integrated into the regulated financial system.
Following the enactment of the GENIUS Act in July, Anchorage Digital Bank NA is among a select group of institutions authorized to issue dollar-backed stablecoins within the United States.
This regulatory standing has positioned the firm at the core of institutional crypto activities. Banks, asset managers, and payment firms are actively seeking compliant digital-dollar infrastructure, further benefiting Anchorage.
In September, Anchorage announced a significant partnership with Tether Holdings. This collaboration is aimed at supporting the launch of the USAT token for U.S. markets.
The partnership exemplifies a broader transformation within the cryptocurrency sector, where federally regulated entities are increasingly collaborating with established, crypto-native liquidity providers.
Chief Executive Officer Nathan McCauley has stated that the company intends to substantially grow its stablecoin team. He cited accelerating demand for digital dollars, driven by new legislation and a resurgence of institutional interest earlier this year.
Institutional Backing and Market Context
Anchorage last secured capital in late 2021, raising $350 million in a funding round. This round was led by KKR and included participation from prominent investors such as Goldman Sachs, GIC, and Apollo Global Management, valuing the firm at over $3 billion at the time.
The current renewed fundraising initiative is taking place even as cryptocurrency prices experienced a pullback later in October.
Despite market fluctuations, firms focused on infrastructure within custody, payments, and stablecoins have continued to attract significant investor interest. This trend reinforces a growing perspective that regulated crypto platforms may be developing into long-term financial utilities, rather than solely cyclical investment opportunities.
If Anchorage proceeds with its IPO plans, it would represent one of the most significant tests yet for federally regulated digital-asset banking in the public markets.