Anchorage Digital seeks $200–$400M ahead of possible IPO
Anchorage Digital is seeking to raise between $200 million and $400 million in new funding as it considers an initial public offering as soon as next year, Bloomberg reported, citing people familiar with the matter who asked not to be identified.
Anchorage Digital Bank National Association, an affiliate, became the first federally chartered crypto bank in 2021. The firm is positioning to lead stablecoin issuance and related services following the passage of the GENIUS Act in July.
Chief Executive Nathan McCauley said in September that the company planned to double the size of its stablecoin team over the next year to meet anticipated growth in demand for digital dollars.
An Anchorage spokesperson told Bloomberg that 2025 marked a period of scaling for the company, noting acquisitions, major partnerships, and the launch of stablecoin issuance to strengthen its standing in institutional crypto.
One partnership involved Tether, the issuer of USDT. In September, Anchorage and Tether announced plans to introduce a USAT token in the United States.
Anchorage expands crypto services
The company provides custody, trading, and staking services to banks, hedge funds, and venture capital firms, serving as a regulated conduit for traditional finance institutions to access digital assets on platforms like BlockShow.
In December, Anchorage expanded its wealth management capabilities by acquiring Securitize For Advisors and enhanced token lifecycle management through the integration of Hedgey.
Anchorage last raised $350 million in late 2021 in a round led by KKR & Co., with participation from Goldman Sachs, GIC, and Apollo credit funds. The company was valued at more than $3 billion at that time.
Other crypto firms target 2026 IPOs
BitGo, a competing crypto custodian, filed S‑1 registration paperwork in September to list on the New York Stock Exchange. Crypto exchange Kraken filed an S‑1 in November and is aiming for a public listing in early 2026.
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