Anchorage, the cryptocurrency custodian, raises $80 million in Series C funding

Anchorage, the institutional crypto bank with license from the Office of the Comptroller of the Currency (OCC), as part of the U.S. Treasury, raised $80 million in its Series C round.

We’d like to thank the clients, investors, partners, protocols, and regulators for their role in making Anchorage what we are today.

Read more about our plan here: https://t.co/wJAQDIQsYJ

— Anchorage (@Anchorage) February 25, 2021

The funding round was led by Singapore’s sovereign wealth fund. It was joined by venture firms a16z, Blockchain Capital, Lux and Indico.

“The funding will enable us to give clients the ability to diversify their reserves and broaden the use cases for cryptocurrencies,”, according to the press release.

Anchorage plans to deploy the investments toward the following goals:

• support for new protocols at launch (examples: Celo, Filecoin and Oasis);
• helping corporations use cryptocurrencies—from treasury management to identifying opportunities to incorporate digital assets into their activities;
• ensuring security and seamless crypto lending; Anchorage plans to scale and broaden its product line;
• seeking partnerships across a broad spectrum of financial institutions;
• lowering the entry to the DeFi space for institutional investors (the company provides custody for many tokens, participated in launch of the DeFi index by Bitwise and the creation of tokenized assets on Ethereum).

Visa announced a pilot of a solution to integrate bitcoin payments by banks. Anchorage will be a partner.

In July 2019, the payments company, together with Blockchain Capital, led the custodian’s Series B funding round.

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