What Anchorage Digital does

Anchorage Digital is the first federally chartered crypto bank in the United States, operating through Anchorage Digital Bank N.A. (OCC trust charter, January 2021), Anchorage Digital Singapore Pte Ltd (MAS licensed), and Anchorage Digital NY LLC (BitLicense holder). Founded in 2017 and headquartered in San Francisco, the company provides institutional-grade digital asset infrastructure spanning custody, trading, settlement, staking, governance, and stablecoin issuance, anchored by HSM-based qualified custody with biometric authentication and bankruptcy-remote structure.

The platform architecture comprises integrated products including Primetrade (institutional trading desk with OTC, derivatives, margin, and API access across 400+ assets), Atlas Settlement Network (off-exchange custody-separated trading integrated with Binance Triparty Banking), Porto (self-custody wallet for DeFi access with Jupiter and Enso integrations), Staking (Aptos, Ethereum, Sui, Solana), Stablecoin Issuance (issuing USAT for Tether, USDPT for Western Union, USDtb for Ethena, USDGO for OSL, fUSD for Falcon), Tokenized Deposit Platform for banks, and Agentic Banking infrastructure for AI agents. Revenue is generated across custody subscriptions, trading/financing transaction fees, stablecoin issuance licensing fees, staking rewards, and settlement subscriptions, sold through direct enterprise sales with dedicated 24/7 high-touch relationship management.

Anchorage Digital serves hedge funds, asset managers, ETF issuers, corporations, governments, protocols, VC firms, and banks/financial institutions, with named customers including BlackRock, Strategy, Western Union, Tether, Ethena Labs, Grayscale, VanEck, JPMorgan Asset Management, State Street, MasterCard, and Grupo Salinas. The company is backed by Andreessen Horowitz, GIC, Goldman Sachs, KKR, Visa, and Tether, raised $487M+ in funding at a $4.2B valuation as of February 2026, and is positioning for a potential US IPO. Three acquisitions (Mountain Protocol, Securitize SFA, Hedgey Finance) consolidated stablecoin reserves, wealth management, and token management capabilities into the platform between 2025 and 2026.

Name

Anchorage Digital

Legal name

Anchor Labs, Inc.

Website

https://anchorage.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Anchorage Digital is the first federally chartered crypto bank in the US, providing institutional clients with integrated custody, trading, settlement, staking, and stablecoin issuance infrastructure through its OCC-chartered bank, MAS-licensed Singapore entity, and BitLicense New York subsidiary.

Ownership category

akta.pro rank

Product category

Institutional Digital Asset Banking

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Funds, Trusts, and Other Financial Vehicles (525), Securities and Commodity Exchanges (5232)

SIC

Savings Institution, Federally Chartered (6035), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Institutional Qualified Custody (Banks/Trust Companies) (FSADACAA)

akta.pro secondary industries

Digital Asset/Crypto Trade Execution Platforms (FSAFANAO), Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG), Custodial Staking Providers (FSADAHAG), Managed Accounts, Separately Managed Accounts (SMA) & Funds Platforms (Crypto) (FSADAHAM), Institutional API Connectivity, OMS/EMS & FIX Gateways (FSADAJAJ)

Keywords

• Digital asset custody
• Institutional crypto trading
• Stablecoin issuance platform
• Blockchain settlement network
• Institutional staking services

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Custody Services: Institutional qualified custodian services for digital assets and fiat currency, providing secure storage, private key management, and regulatory compliance infrastructure.
2. Trading and Financing: Digital asset trading services including spot trading, derivatives access, margin and collateral solutions, and OTC desk services for institutional portfolios.
3. Stablecoin Issuance: Infrastructure fees for issuing regulated stablecoins on behalf of institutional partners including Tether (USAT), Western Union (USDPT), Ethena Labs (USDtb), and OSL Group (USDGO).
4. Staking and Rewards: Staking infrastructure enabling institutions to earn rewards by staking assets like Aptos, Ethereum, Sui, Solana with flexible delegation, plus stablecoin rewards programs.
5. Settlement Services: Atlas platform providing off-exchange settlement infrastructure for institutional trading, managing collateral oversight and 24/7 on-chain settlement workflows.
6. Wealth Management Solutions: Integrated platform for registered investment advisors and wealth managers to custody, trade, and manage digital asset portfolios with streamlined compliance reporting.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Anchorage Digital operates the first federally chartered crypto bank in the United States, providing institutional clients with an integrated platform for digital asset custody, trading, settlement, staking, governance, and stablecoin issuance. The company delivers qualified custodian services through Anchorage Digital Bank N.A. and serves hedge funds, asset managers, ETF issuers, corporations, governments, protocols, and VC firms globally. Its infrastructure supports over 400 assets and includes proprietary systems for off-exchange settlement, self-custody wallet, agentic banking for AI agents, and tokenized deposit infrastructure for banks.

Product overview

Anchorage Digital is a federally chartered crypto bank offering a unified institutional platform for digital asset participation. The platform architecture consists of: Primetrade (institutional trading with OTC desk, derivatives, and API access), Atlas (on-chain settlement network enabling custody-separated off-exchange trading), Porto (self-custody wallet for DeFi access), custody (qualified custodian with HSM-based security), staking (for ETH, SOL, APT, SUI and other assets), stablecoin issuance (issuing stablecoins including USAT for Tether, USDPT for Western Union, USDtb for Ethena, USDGO for OSL, and fUSD for Falcon), Agentic Banking (AI agent banking infrastructure), and banking services (USD deposit accounts, tokenized deposits for banks). The platform serves financial institutions, asset managers, ETF issuers, hedge funds, protocols, corporations, governments, and venture capital firms.

Differentiator

Problem solved

Functional benefit

Brands

• Atlas: Institutional settlement platform providing off-exchange settlement and custody-separated trading infrastructure for institutional crypto markets.
• Porto
• Anchorage Digital Prime
• USAT
• USDtb

Quantifiable outcome

• Supported launch of USA₮ stablecoin that grew from 22 million to 156 million tokens (600% increase) in approximately two months.
• +4 more outcomes

Named customers13 records

Segments10 records

Ideal customer profiles9 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

AI capability2 records

Feature6 records

Partnerships

21 partnerships are on record, tiered major, flagship and minor.

• LidomajorTechnology or Integration · 2 July 2026Anchorage Digital integrated Lido's wstETH liquid staking into its regulated custody platform. Enables institutional clients to mint and burn wstETH while maintaining custody and governance within trusted institutional workflow, addressing compliance and accounting requirements.
• BinanceflagshipStrategic or Co-development Partner · 1 July 2026Binance integrated Anchorage Digital's Atlas off-exchange settlement platform into its Triparty Banking network, the first exchange integration within Atlas. Enables institutional clients to maintain independent custody while accessing Binance liquidity through a custody-separated model.
• BlackRockflagshipTechnology or Integration · 25 June 2026BlackRock uses Anchorage Digital as digital asset service provider. Anchorage provides custody infrastructure for tokenized products including BUIDL and serves as custodian for various BlackRock institutional digital asset initiatives.
• DTCCmajorTechnology or Integration · 25 June 2026DTCC tokenization initiative includes Anchorage Digital among 50+ participating firms. Anchorage provides digital asset custody infrastructure for DTC-custodied real-world assets tokenization initiative launching October 2026.
• JPMorgan, Citi, Bank of AmericamajorStrategic or Co-development Partner · 23 June 2026Major US banks including JPMorgan, Citi, and Bank of America are planning a shared tokenized deposit network for H1 2027, with Anchorage positioning as bridge infrastructure for banks entering on-chain payment flows.
• M0majorStrategic or Co-development Partner · 22 June 2026Partnership with M0 combines M0's modular issuance software with Anchorage's federally chartered banking and custody infrastructure to reduce time and operational burden of bringing US-regulated stablecoins to market.
• State Street Investment ManagementmajorStrategic or Co-development Partner · 16 June 2026State Street launched State Street Stablecoin Reserves Money Market Fund (SSCXX) designed for stablecoin issuers under GENIUS Act. State Street Bank and Trust Company and Anchorage Digital are initial investors in the fund.
• OSL GroupmajorChannel Partner/ Reseller/ Distributor · 16 June 2026OSL Group distributes USDGO stablecoin issued by Anchorage Digital Bank, with circulating supply surpassing $500 million. Partnership provides Asia-Pacific institutional access to compliant enterprise-grade stablecoin.
• Solana FoundationmajorTechnology or Integration · 12 June 2026Anchorage Digital supports Solana network infrastructure including liquid staking, stablecoin issuance, and institutional DeFi access. Partnership enables Solana institutional participation through Anchorage's regulated platform.
• MastercardmajorTechnology or Integration · 10 June 2026Mastercard launched Agent Pay for Machines (AP4M) for autonomous AI agent payments. Anchorage Digital is among 30+ launch partners providing digital asset infrastructure for the multi-rail settlement platform supporting both traditional cards and stablecoins.
• BybitmajorChannel Partner/ Reseller/ Distributor · 4 June 2026Bybit became first major crypto exchange to integrate Western Union's USDPT stablecoin issued by Anchorage Digital Bank. Creates new on-and-off-ramp channel for USDPT in selected Latin American markets, reducing settlement time from days to minutes.
• Real FinanceminorStrategic or Co-development Partner · 3 June 2026Anchorage Digital and Real Finance collaborated to manage tokenized financial asset lifecycles, combining Anchorage's custody and settlement with Real Finance's issuance and lifecycle management tools for onchain capital markets.
• Ethena LabsflagshipTechnology or Integration · 2 June 2026Ethena Labs partnered with Anchorage Digital for institutional off-chain lending. Atlas platform manages collateral while Ethena deploys capital into institutional loans. Extension of existing relationship where Anchorage Digital Bank serves as US issuer of Ethena's USDtb stablecoin.
• Falcon FinancemajorTechnology or Integration · 28 May 2026Falcon Finance launched fUSD stablecoin issued through Anchorage Digital Bank's federally regulated platform for institutional trading and collateral workflows aligned with GENIUS Act.
• Grupo SalinasmajorTechnology or Integration · 15 May 2026Mexico's Grupo Salinas partnered with Anchorage Digital to integrate stablecoin solutions for cross-border payments through its Coinpro platform. Aims to compress settlement cycles in international operations with plans extending to Grupo Elektra and Banco Azteca.
• Google CloudflagshipTechnology or Integration · 6 May 2026Anchorage Digital launched Agentic Banking partnership with Google Cloud. Google Cloud provides the intelligence layer allowing AI agents to discover, negotiate, and coordinate while Anchorage Digital serves as the settlement layer integrating custody, key management, trading, staking, and operational processes.
• J.P. Morgan Asset ManagementmajorTechnology or Integration · 5 May 2026Anchorage Digital working with J.P. Morgan Asset Management to explore tokenized instrument solutions for third-party liquidity infrastructure. JPMorgan launched JLTXX tokenized money market fund on Ethereum with Anchorage as initial investor and stablecoin reserve infrastructure participant.
• Western UnionflagshipTechnology or Integration · 4 May 2026Western Union launched USDPT stablecoin on Solana blockchain issued by Anchorage Digital Bank. Stablecoin enables 24/7 settlement across Western Union's global network spanning 200+ countries with 360,000 agent locations.
• M0majorStrategic or Co-development Partner · 30 April 2026Anchorage Digital partnered with M0 to launch a modular stablecoin issuance stack. Collaboration combines M0's infrastructure layer with Anchorage's regulated issuance and compliance capabilities to reduce cost and complexity of launching regulated digital currencies for institutional builders.
• TetherflagshipTechnology or Integration · 5 February 2026Tether designated Anchorage Digital Bank N.A. as the issuer for USAT, its US-focused dollar-backed stablecoin. Partnership enables compliant stablecoin operations under US federal supervision aligned with GENIUS Act framework.
• SecuritizemajorStrategic or Co-development Partner · 16 December 2025Anchorage Digital acquired Securitize's Wealth Management Unit (SFA), a digital asset platform for registered investment advisors. Deal consolidates SFA's platform, product team, and client relationships into Anchorage Digital, enhancing integrated trading, custody, and client interface capabilities for wealth management.

Scale indicators8 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Paxos: Paxos is a regulated blockchain infrastructure platform that issues regulated stablecoins (USDP, PayPal's PYUSD) and provides custody and settlement services. It directly competes with Anchorage in regulated stablecoin issuance and institutional custody.
• Coinbase: Coinbase is the largest US-listed crypto exchange and provides institutional custody, trading, and staking services through Coinbase Prime and Coinbase Custody. It directly competes with Anchorage for institutional digital asset relationships and is the most scaled direct competitor.
• Gemini Trust Company: Gemini is a US-regulated crypto exchange and qualified custodian serving institutional and retail clients. It competes with Anchorage in institutional custody, trading, and stablecoin-adjacent services.
• Fireblocks: Fireblocks provides institutional digital asset custody, settlement, and tokenization infrastructure, including MPC-based wallets and an off-exchange settlement network. It overlaps with Anchorage in custody, Atlas-style settlement, and stablecoin-related infrastructure.
• BitGo: BitGo is a leading institutional digital asset custodian and trading infrastructure provider, serving hedge funds, exchanges, and protocols. It competes head-to-head with Anchorage in qualified custody, staking, and institutional on-ramps.
• Circle: Circle is the issuer of USDC, the second-largest US dollar stablecoin, and provides institutional treasury, custody, and settlement services. It is a direct competitor in the regulated stablecoin issuance and institutional digital asset cash management market.

Regional players

• Bakkt: Bakkt is a regulated digital asset platform offering custody, trading, and consumer crypto products, primarily serving US institutional and consumer clients. It is a smaller-scale direct competitor in the institutional custody and stablecoin-adjacent space.

Broad incumbents

• Galaxy Digital: Galaxy Digital is a diversified institutional crypto financial services firm offering trading, asset management, and infrastructure. It overlaps with Anchorage's institutional trading, custody, and staking offerings but as a broader, non-bank platform.
• BNY Mellon: BNY Mellon is the world's largest custodian bank and has launched digital asset custody services. As a traditional incumbent entering crypto custody, it is a long-term competitive threat to Anchorage, particularly with bank and asset manager clients.
• Fidelity Digital Assets: Fidelity Digital Assets is the crypto arm of Fidelity Investments, offering institutional custody and trading. As a division of one of the largest asset managers, it is a broad incumbent competing for the same institutional clients as Anchorage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/anchorage
• LinkedInlinkedin.com/company/anchorage
• Facebookfacebook.com/anchoragedigital

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries7 records

Funding overview

Funding rounds6 records

Investors37 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments12 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Anchorage Digital