Crypto Financial institution Anchorage to Command $2B+ Valuation in New Funding Spherical, Sources Say

Cryptocurrency custody agency Anchorage is elevating a big funding spherical that may worth the San Francisco-based firm at between $2 billion and $3 billion, based on 4 individuals acquainted with the plans.

“Anchorage is about to lift at a $3 billion valuation,” stated one of many individuals who requested to not be named. “They’re elevating a giant spherical and it’s primarily based on the truth that monetary establishments wish to enter this area.” One other trade insider stated the valuation might land within the $2 billion to $3 billion vary.

The forthcoming increase comes as crypto corporations are bringing in enterprise capital valuations that make tech “unicorn” standing look quaint. A multibillion-dollar valuation wouldn’t be farfetched for Anchorage: Final week, London-based crypto custody agency Copper stated it was elevating $500 million at a $2.5 billion valuation.

Crypto custody, particularly, has change into a scorching sector, with banks and enormous fintech’s seeking to purchase corporations specializing within the storage of digital property, or a minimum of safe a strategic stake in them.

Learn extra: Crypto Custody Agency Fireblocks Raises $310M at $2B Valuation

Again in February of this 12 months, Anchorage raised an $80 million Collection C, led by GIC, Singapore’s sovereign wealth fund. Additionally taking part within the spherical have been Andreessen Horowitz (a16z), Blockchain Capital, Lux and Indico. The agency’s valuation was not disclosed on the time.

Anchorage is distinguished as the primary crypto-native agency to obtain a federal banking constitution from the Workplace of the Comptroller of the Forex (OCC), making it the primary nationwide “digital asset financial institution” within the U.S.

Anchorage declined to remark.

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