Anchorage Digital is a

digital asset A digital asset is anything that exists only in digital form and comes with a distinct usage right. Data that do not possess that right are not considered assets. ''Digital assets'' include but are not exclusive to: digital documents, audible ...

platform and infrastructure provider that deals in the holding, investing, and infrastructure for

cryptocurrency A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. It ...

and cryptocurrency products. It has the first federally chartered cryptocurrency bank, receiving approval from the

Office of the Comptroller of the Currency The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all natio ...

in 2021.

History

Anchorage Digital was founded in 2017 by Diogo Mónica and Nathan McCauley. Early investors included

Andreessen Horowitz Andreessen Horowitz (also called a16z, legal name AH Capital Management, LLC) is a private American venture capital firm, founded in 2009 by Marc Andreessen and Ben Horowitz. The company is headquartered in Menlo Park, California. Andreessen H ...

and

Blockchain Capital Blockchain Capital (formerly ''Crypto Currency Partners)'' is a venture capital company founded in 2013 by brothers Paul Bartlett Stephens and William Bradford Stephens. As the first, dedicated venture capital firm exclusively focused on investi ...

. Visa became an investor in Anchorage Digital in 2019, and uses the company to provide cryptocurrency payment services. Anchorage Digital made its first acquisition in 2020 with the purchase of Merkle Data. The same year it also added trading and financing services. Anchorage opened an engineering hub in

Porto, Portugal Porto or Oporto () is the second-largest city in Portugal, the capital of the Porto District, and one of the Iberian Peninsula's major urban areas. Porto city proper, which is the entire municipality of Porto, is small compared to its metropol ...

in 2020 and is the first cryptocurrency

unicorn The unicorn is a legendary creature that has been described since Classical antiquity, antiquity as a beast with a single large, pointed, spiraling horn (anatomy), horn projecting from its forehead. In European literature and art, the unicor ...

with a presence in that country. In 2021, Anchorage Digital Bank received its banking charter from the

, making it the first federally chartered cryptocurrency bank in the United States. The same year, it was contracted by the

United States Department of Justice The United States Department of Justice (DOJ), also known as the Justice Department, is a United States federal executive departments, federal executive department of the United States government tasked with the enforcement of federal law and a ...

to be the custodian for all digital assets seized or forfeited in criminal cases. It also became the first known United States bank to custody a

NFT A non-fungible token (NFT) is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership. The ownership of an NFT is recorded in the b ...

by facilitating a purchase for Visa. In December 2021, Anchorage Digital was valued at more than $3 billion and had raised capital from investors such as

KKR KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strateg ...

, Goldman Sachs,

GIC (Singaporean sovereign wealth fund) GIC Private Limited is a sovereign wealth fund in Singapore that manages its foreign reserves. Established by the Government of Singapore in 1981 as the Government of Singapore Investment Corporation, its mission is to preserve and enhance the ...

, and

Wellington Management Wellington Management Company is a private, independent investment management firm with client assets under management totaling over US$1 trillion based in Boston, Massachusetts, United States. The firm serves as an investment advisor to over 2 ...

Services

Anchorage Digital is a custodian of digital assets for financial institutions such as banks, venture capital firms, and fintechs, as well as governments. It uses biometric authentication and hardware security modules for storing and securing cryptocurrency. It also provides lending and trading of digital assets, including infrastructure used by companies to build cryptocurrency products.

References

{{reflist

External links

Official website
Companies established in 2017 Financial services companies based in California Banks established in 2017 Financial services companies established in 2017