With the additional funds, the crypto custodian wants to scale quickly and develop new services for financial institutions.
After the custodian Anchorage was the first American crypto company to secure a nationwide banking license from the OCC supervisory authority last month, additional investment capital of 80 million US dollars has now been collected
“We are pleased to announce that Anchorage has raised $ 80 million through a Series C funding round led by the GIC. In addition to the Singapore-based investment fund, a16z, Blockchain Capital, Lux and Indico have also participated, ”as an Anchorage blog post said yesterday . And further:
“The new capital enables us to quickly scale up to meet the growing demand in the cryptocurrency space, especially for corporate customers and traditional financial institutions.
In January, the „Office of the Comptroller of the Currency“ (OCC), the supervisory authority for the American banking system, granted Anchorage a banking license , making it the first crypto company in the USA to act as a „bank“ nationwide. Approval makes the crypto custodian more of a trustee than a „real“ bank. Shortly afterwards, the authority issued this form of license to a similar Bitcoin Investor company, which is increasingly bridging the gap between the crypto industry and traditional banking.
After Anchorage originally specialized in crypto custody, the company now also offers other crypto services:
“With this new investment, we can open up many new avenues for our institutional customers. They can include cryptocurrencies in their offerings, diversify their corporate capital with cryptocurrencies and provide a range of other crypto services for their customers. „
In July 2020, the OCC gave the US banks the green light to take over crypto custody services. A banking license from the authority also legitimizes this business model for companies that are not a “classic” bank.