Anchorage, a crypto bank focused on institutional clients, closed a Series D round of $350 million at a $3 billion valuation. It was led by KKR, Reuters reports.<\/p>\n
Funding was also provided by Goldman Sachs, Andreessen Horowitz, Alameda Research, Apollo, Wellington Management, BlackRock, Blockchain, Kraken and PayPal Ventures.<\/p>\n
A crypto bank holding an Office of the Comptroller of the Currency license<\/a> as part of the U.S. Treasury offers custody, staking, lending and trading of digital assets, as well as infrastructure solutions. In the future, expansion of this lineup is not ruled out, notably into DeFi<\/a>.<\/p>\n Anchorage will deploy the proceeds toward international expansion and support for bank- and corporate-led initiatives to create cryptocurrency products for clients. In an interview with Decrypt<\/a>, CEO Diogo Monica predicted that this could happen in the second half of 2022.<\/p>\n According to the company, its client base grew 96% in 2021. Digital asset custody accounts for less than 50% of revenue as other lines of business expand.<\/p>\n According to Monica, Anchorage has no plans to pursue an IPO<\/span>.<\/p>\n Earlier in February, the crypto bank raised $80 million<\/a> from Singapore’s sovereign wealth fund with participation from a16z, Blockchain Capital, Lux and Indico.<\/p>\n