Institutional crypto platform Anchorage Digital is looking to raise hundreds of millions of dollars in fresh capital as it considers a potential initial public offering.
According to Bloomberg, the raise will range from $200 to $400 million, and a possible public offering is expected to take place next year. report on Friday, citing people familiar with the matter who asked not to be identified.
Anchorage’s Anchorage Digital Bank National Association became the first federally licensed cryptocurrency bank in 2021 and is now well-positioned to lead the issuance of stablecoins and related services following the passage of the GENIUS Act in July.
Anchorage CEO Nathan McCauley he said in September that it plans to double its stablecoin team over the next year to adapt to the expected boom in digital dollars.
“2025 was our year of scale. We made a series of acquisitions, signed large partnerships and launched new business lines such as stablecoin issuance to strengthen our leading position in the institutional cryptocurrency market,” an Anchorage spokesperson told Bloomberg.
One of these partnerships included Tether, the issuer of the largest stablecoin, USDT, with both companies announcing plans to launch the USAT token in the US in September.
Anchorage Expands Its Cryptocurrency Offering
Anchorage also provides custody, trading and staking services to banks, hedge funds and venture capital firms, acting as a regulated bridge for TradFi players to access cryptocurrencies.
In December, Anchorage also expanded its wealth management division with the acquisition of Securitize For Advisors and token lifecycle management through Hedgey integration.
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Anchorage secured $350 million in financing in overdue 2021 led by KKR & Co, with participation from credit funds Goldman Sachs, GIC and Apollo.
Anchorage’s valuation was then estimated at over $3 billion.
Other cryptocurrency leaders are considering an IPO in 2026
Meanwhile, one of Anchorage’s cryptocurrency custody rivals, BitGo, filed S-1 IPO documents to list on the New York Stock Exchange in September, while cryptocurrency trading platform Kraken filed an S-1 in November and expects a public listing in early 2026.
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