Anchorage Digital Prepares for IPO with $400 Million Fundraising Effort

Anchorage Digital Prepares for IPO with $400 Million Fundraising Effort

Anchorage Digital is gearing up for a significant capital raise as it positions itself for a possible public listing, indicating a revival in momentum for crypto companies seeking to enter public markets.

Key Takeaways:

Anchorage Digital is aiming to raise between $200 million and $400 million as it prepares for a potential IPO next year.
The firm’s federally chartered crypto bank status allows it to take advantage of the emerging U.S. regulations surrounding stablecoins and digital assets.
Anchorage is enhancing its offerings in stablecoin services, custody, and wealth management to meet increasing institutional demand.

The company is looking to secure between $200 million and $400 million in new funding, with an initial public offering planned for sometime next year, as reported by Bloomberg, citing sources familiar with the developments.

Anchorage’s Federal Bank Charter Provides Competitive Advantage

Anchorage's ambitions are closely linked to its regulatory framework. Its affiliate, Anchorage Digital Bank National Association, made history in 2021 by becoming the first federally chartered crypto bank in the U.S.

This status has increasingly differentiated Anchorage from its competitors, especially as legislation around stablecoins and digital asset infrastructure gains traction in Washington.

With the recent passage of the GENIUS Act in July, Anchorage is set to play a pivotal role in stablecoin issuance and related services.

CEO Nathan McCauley noted in September that the firm intends to double its stablecoin team over the next year, projecting a spike in demand for dollar-backed digital tokens from banks, fintech companies, and global institutions.

“2025 will be our year of scale,” an Anchorage representative shared with Bloomberg, identifying a series of acquisitions, new collaborations, and the launch of stablecoin issuance as important milestones.

One significant partnership is with Tether, as both firms announced last year their plans to introduce a U.S.-focused stablecoin named USAT.

In addition to stablecoins, Anchorage has developed a comprehensive range of services tailored for institutional clients, including custody, trading, and staking options for banks, hedge funds, and venture capital firms.

The company has also ventured into wealth management, acquiring Securitize for Advisors and integrating token lifecycle management via Hedgey to enhance its influence in the realm of tokenized assets.

Anchorage is familiar with large fundraising rounds, having secured $350 million in late 2021 through a round led by KKR & Co, with participation from Goldman Sachs, GIC, and Apollo credit funds, valuing the company at over $3 billion at that time.

Growing Trend of Crypto Firms Pursuing IPOs Alongside Anchorage

Anchorage's plans for an IPO coincide with a surge of other prominent crypto firms preparing for public listings.

Custody rival BitGo filed confidentially for an IPO last year, while the crypto exchange Kraken completed its filing in November, aiming for a debut in early 2026.

Meanwhile, Bitpanda is positioning itself for a Frankfurt stock market debut in the first half of 2026, transitioning one of Europe’s largest retail crypto platforms from benefitting in a bull market to facing the realities of public market scrutiny.

In a related move, tZero Group, a New York-based blockchain infrastructure firm focused on tokenized securities and real-world assets, announced it is working towards a public listing in 2026.

Prior to that, BitGo officially submitted its documentation for an initial public offering, making history as the first dedicated crypto custodian to seek a listing on a U.S. stock exchange.