Anchorage Digital Eyes $400M Raise as IPO Plans Take Shape

• Anchorage Digital reportedly plans to raise $200M–$400M and aims for a 2026 IPO.
• The firm wants to lead stablecoin services and plans to double its stablecoin team in 2026.
• Regulated crypto infrastructure firms like BitGo and Kraken are also lining up public listings.

Anchorage Digital is rumored to be working on a large fundraising exercise as the institutional cryptocurrency platform readies itself for a possible listing. The company is seeking to raise between $200 million and $400 million, as reported in a Bloomberg article, targeting an initial public offering in 2026.

This announcement is a reflection of increasing demands for funding from regulated crypto infrastructure players with the help of stablecoin adoption and maturing U.S. regulatory frameworks. Anchorage is a unique player in the market. Its affiliate, Anchorage Digital Bank National Association, became the first federally chartered crypto bank in the United States in 2021, giving the firm a regulatory edge over many competing custody and trading platforms.

Stablecoin issuance becomes a key 2026 focus

Anchorage is now looking beyond custody and staking. It wants to become a leading player in stablecoin issuance and stablecoin-related services, especially after the GENIUS Act was passed in July and pushed stablecoin compliance into clearer lanes.

Anchorage CEO Nathan McCauley has already signaled that shift. In September, he said Anchorage plans to double the size of its stablecoin team within a year to support rising institutional demand for regulated digital dollars. The company expects a wave of banks and asset managers to rely on stablecoin rails for settlement, treasury flows, and cross-border transfers.

Anchorage has also leaned into strategic partnerships to support that goal. One notable collaboration involves Tether, the issuer of USDT. The two companies announced in September that they plan to launch a U.S.-focused USAT token, signaling Anchorage’s intent to expand deeper into stablecoin infrastructure rather than staying purely on the custody side.

Institutional crypto services expand beyond custody

In fact, Anchorage currently extends a variety of institutional-grade financial services. The company provides custody, trading, and staking services to banks, hedge funds, and venture capitalists, serving as an entry point into the cryptocurrency space for traditional finance.

At the same time, the company continues to build a wider institutional product stack through acquisitions and integrations. In December, Anchorage expanded its wealth management capabilities by acquiring Securitize for Advisors. It also strengthened token lifecycle management by integrating Hedgey, which helps manage distribution and vesting infrastructure for tokenized assets.

As for Anchorage, it was described as a year of scale for the company in 2025. According to a company representative speaking with Bloomberg, it was the year the company made acquisitions, forged big partnerships, and launched new business verticals such as the issuance of stablecoins.

IPO wave builds across crypto infrastructure

The fundraising effort of Anchorage is actually part of a bigger trend. Several crypto leaders are already gearing up to go public, particularly providers of custody and brokerage services, which are already regulated. One of their biggest rivals, BitGo, already filed its S-1 to be listed on the New York Stock Exchange (NYSE) in September. Meanwhile, crypto exchange Kraken already filed its S-1 and is eyeing going public early 2026.

Its funding history is also reflecting strong institutional support. The company recently raised $350 million in the latter part of 2021, which was led by KKR & Co, and also included contributions from Goldman Sachs, GIC, and Apollo credit funds. This investment gave the company a valuation of over $3 billion.

If the new raise closes near the top of its range and IPO plans move forward, Anchorage could emerge as one of the most prominent U.S.-regulated crypto companies to test public markets in 2026.

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