Institutional crypto platform Anchorage Digital is trying to raise a whole lot of tens of millions of dollars in fresh capital because it eyes a possible initial public offering.
The raise could be between $200 million and $400 million, while a possible initial public offering is planned sometime next 12 months, a Bloomberg report said Friday, citing people accustomed to the matter who spoke on condition of anonymity.
Anchorage's subsidiary, Anchorage Digital Bank National Association, became the primary federally chartered crypto bank in 2021 and is now well positioned to guide stablecoin issuance and related services following the passage of the GENIUS Act in July.
Anchorage CEO Nathan McCauley said in September that he plans to double the corporate's stablecoin team next 12 months to accommodate the expected boom in digital dollars.
Source: Bloomberg
“2025 was our 12 months of greatness. We made a lot of acquisitions, formed key partnerships and launched recent businesses equivalent to stablecoin issuance to solidify our leadership position within the institutional crypto space,” an Anchorage spokesperson told Bloomberg.
One of those partnerships included Tether, the issuer of the biggest stablecoin USDT. The two corporations announced plans to launch a USAT token within the US in September.
Anchorage is expanding its crypto offerings
Anchorage also provides custody, trading and staking services to banks, hedge funds and enterprise capital firms and acts as a regulated bridge for TradFi players to access cryptocurrencies.
In December, Anchorage also expanded its asset management division through the acquisition of Securitize For Advisors and token lifecycle management through the mixing of Hedgey.
Anchorage secured $350 million in financing in late 2021 led by KKR & Co, with participation from credit funds Goldman Sachs, GIC and Apollo.
At the time, Anchorage was valued at over $3 billion.
Other crypto leaders are considering IPOs in 2026
Meanwhile, BitGo, one among Anchorage's cryptocurrency custody competitors, filed S-1 IPO papers in September to list on the New York Stock Exchange, while crypto trading platform Kraken filed an S-1 in November and is eyeing a public listing in early 2026.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph's editorial guidelines and goals to supply accurate and up-to-date information. Readers are advised to independently confirm the knowledge. Read our editorial policies https://cointelegraph.com/editorial-policy
