Cryptocurrency custodian and banking company Anchorage announced Thursday that it raised $80 million in a Series C funding round.
February 26, 2021 | AtoZ Markets – After receiving a banking license from the Office of the United States Comptroller of Currency (OCC) last month, the team of digital asset entity, Anchorage has added $80 million in a Series C funding round.
“Today, we are pleased to announce that Anchorage has raised an $80 million Series C, led by GIC, Singapore’s sovereign wealth fund, with participation from a16z, Blockchain Capital, Lux and Indico,” reads a blog post announcement from the Anchorage Thursday.
According to the announcement, this new capital will allow Anchorage to scale rapidly to meet the growing demand for participation in the digital asset space, particularly among corporations and traditional financial institutions.
In January, the OCC delivered a banking charter to Anchorage, a first from the governing body for a blockchain company. The ruling came with a number of guidelines, including specific restrictions that prevent Anchorage from acting as a bank in the traditional sense.
Anchorage started out as a digital asset custody solution, which later expanded into other crypto finance endeavors. The details of his recent blog post:
“This new round of funding will help us help institutions engage in new ways, bringing cryptocurrencies to their users, diversifying their corporate treasuries, and enabling a wide range of emerging use cases.”
Upcoming developments include facilitating processes around digital asset lending and partnerships with multiple types of banks, the publication added.
In July 2020, the OCC gave the green light to US domestic banks to offer crypto custody services.
Think we missed something? Let us know in the comment section below.