Anchorage Digital is a

digital asset A digital asset is anything that exists only in digital form and comes with a distinct usage right or distinct permission for use. Data that do not possess those rights are not considered assets. ''Digital assets'' include, but are not limited t ...

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

cryptocurrency A cryptocurrency (colloquially crypto) is a digital currency designed to work through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. Individual coin ownership record ...

and cryptocurrency products. It has the first and only 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 corporate charter, charter, bank regulation ...

in 2021.

History

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

Andreessen Horowitz AH Capital Management, LLC (commonly known as Andreessen Horowitz, or a16z) is an American privately held venture capital firm, founded in 2009 by Marc Andreessen and Ben Horowitz. The company is headquartered in Menlo Park, California. As of M ...

and Blockchain Capital. 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 Digital opened an engineering hub in

Porto, Portugal Porto (), also known in English language, English as Oporto, is the List of cities in Portugal, second largest city in Portugal, after Lisbon. It is the capital of the Porto District and one of the Iberian Peninsula's major urban areas. Porto c ...

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 unico ...

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 U.S. government that oversees the domestic enforcement of Law of the Unite ...

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 is recorded on a blockchain and is used to certify ownership and authenticity. It cannot be copied, substituted, or subdivided. The ownership of an NFT is recorded in the blockchai ...

by facilitating a purchase for Visa. In December 2021, Anchorage Digital had raised capital from investors such as

KKR KKR may refer to: * KKR & Co., a global investment firm *Kolkata Knight Riders, an Indian Premier League franchise * Rheinsberg Nuclear Power Plant (), first nuclear power plant in the former East Germany * Kalkara, Malta, postal code KKR *Kir-Bala ...

Goldman Sachs The Goldman Sachs Group, Inc. ( ) is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many internationa ...

GIC (Singaporean sovereign wealth fund) GIC Private Limited is a Singaporean sovereign wealth fund that manages the country's foreign reserves. Established by the Government of Singapore in 1981 as the Government of Singapore Investment Corporation, from which the acronym "GIC" is ...

, 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, ...

. It expanded into Asia in 2022 with institutional partners, opening an office in Singapore. As of 2022, Anchorage Digital was valued at more than $3 billion, and is the only federally chartered cryptocurrency bank as of 2023.

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

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External links

Official website
American companies established in 2017 Financial services companies based in California Banks established in 2017 Financial services companies established in 2017 Kohlberg Kravis Roberts companies