Anchorage has raised an $80 million Sequence C funding spherical led by GIC, also called Singapore’s sovereign wealth fund. Andreessen Horowitz, Blockchain Capital, Lux and Indico are additionally taking part in immediately’s funding spherical.
The considering behind this funding spherical is sort of easy. Some corporations, akin to Tesla or Sq., have not too long ago chosen to put money into cryptocurrencies. They’re changing a small portion of their money stability into cryptocurrencies. Some buyers select to put money into corporations that make it easier to add cryptocurrencies to your money stability — Anchorage is one in all them.
The startup initially provided a custody answer. It allows you to hold your cryptocurrencies protected for you so that you just don’t should deal with the wallets and their private and non-private keys. However extra not too long ago, Anchorage acquired a federal banking constitution, turning it right into a digital asset financial institution.
Getting a thumbs-up signal from regulators ought to positively assist relating to confidence. Institutional buyers are in search of trusty crypto companions to dip their toes into the crypto waters.
Along with custody, Anchorage now provides a number of monetary merchandise, akin to staking, crypto lending, and many others. In different phrases, it desires to turn into a one-stop store for institutional buyers.
Apparently, Anchorage additionally desires to turn into a crypto-banking-as-a-service startup. The startup thinks it might turn into the popular crypto associate for each challenger banks and conventional banks.
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