Anchorage Digital is weighing a new capital raise as the crypto custodian explores a potential public listing, signaling growing confidence among regulated digital-asset firms despite recent market volatility.
The New York–based company, whose affiliate operates the first federally chartered digital-asset bank in the U.S., is considering raising between $200 million and $400 million ahead of a possible IPO as early as next year, Bloomberg reported.
The timing and valuation are still under discussion, the sources said. Anchorage declined to comment on fundraising plans or a potential listing.
Stablecoin Regulation Reshapes Growth Plans
Anchorage’s expansion comes as stablecoins move deeper into the regulated financial system.
Under the GENIUS Act, signed into law in July, Anchorage Digital Bank NA is among a limited group of institutions authorized to issue dollar-backed stablecoins in the United States.
That regulatory positioning has pushed the firm closer to the center of institutional crypto activity, particularly as banks, asset managers, and payment firms seek compliant digital-dollar infrastructure.
In September, Anchorage announced a partnership with Tether Holdings to support the launch of the USAT token for U.S. markets.
The collaboration highlighted a broader shift underway in crypto, as federally regulated entities increasingly work alongside large, crypto-native liquidity providers.
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Chief executive Nathan McCauley has said the company plans to significantly expand its stablecoin team, citing accelerating demand for digital dollars following new legislation and renewed institutional interest earlier this year.
Institutional Backing And Market Context
Anchorage last raised capital in late 2021, securing $350 million in a funding round led by KKR, with participation from Goldman Sachs, GIC, and Apollo Global Management, valuing the firm at more than $3 billion.
The renewed fundraising push comes even as crypto prices pulled back later in October.
Still, infrastructure-focused firms tied to custody, payments, and stablecoins have continued to attract investor interest, reinforcing a growing view that regulated crypto platforms may be positioned as long-term financial utilities rather than purely cyclical plays.
If Anchorage proceeds with an IPO, it would mark one of the most significant public-market tests yet for federally regulated digital-asset banking.
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