Anchorage Digital Eyes $400M Fundraising Round Ahead of Potential 2027 IPO

Institutional crypto platform Anchorage Digital is seeking to raise between $200 million and $400 million in fresh capital as it prepares for a potential initial public offering in 2027, according to Bloomberg reports from sources familiar with the matter. The company has not publicly confirmed these plans.

The New York-based firm operates the first federally chartered digital asset bank in the United States, giving it a regulatory advantage in the rapidly growing institutional crypto sector.

Stablecoin Strategy Drives Expansion

Anchorage Digital’s growth strategy centers heavily on stablecoin issuance and related services. CEO Nathan McCauley announced plans to double the company’s stablecoin team within the next year to meet rising institutional demand for regulated digital dollars.

The company described 2025 as its “year of scale,” making strategic acquisitions, securing major partnerships, and launching new business lines including stablecoin issuance. Key partnerships include a collaboration with Tether to launch USAT, a U.S.-focused stablecoin, and a partnership with Ethena Labs to bring the USDtb stablecoin onshore under federal compliance.

Source: @business

According to a Citi report, the global stablecoin market could reach $1.9 trillion by 2030, positioning Anchorage Digital’s timing in line with projected market growth. The GENIUS Act, signed into law on July 18, 2025, created the first federal regulatory framework for stablecoins, requiring issuers to back every dollar with liquid assets like U.S. dollars or Treasury bills.

Federal Charter Provides Competitive Edge

Anchorage Digital Bank became the first federally chartered crypto bank in January 2021 when it received approval from the Office of the Comptroller of the Currency. This status allows the company to offer regulated custody, trading, staking, and now stablecoin issuance services to institutional clients including banks, hedge funds, and venture capital firms.

However, Anchorage’s monopoly on federal crypto banking status ended in December 2025 when the OCC granted conditional approval to five major cryptocurrency companies: Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos. These firms can now operate as federally chartered national trust banks, intensifying competition in the institutional crypto custody market.

The company’s federal charter brings both advantages and constraints. While it allows Anchorage Digital to serve institutional clients requiring regulated counterparties, it also subjects the firm to the same oversight as traditional national banks.

Strong Institutional Backing

Anchorage Digital last raised capital in December 2021, securing $350 million in a Series D funding round that valued the company at over $3 billion. The round was led by global investment firm KKR, with participation from Goldman Sachs, GIC, and Apollo credit funds. Other major investors include Andreessen Horowitz and Visa.

The company was founded in 2017 by Diogo Mónica and Nathan McCauley, both security engineers who previously worked at Square and Docker. Mónica holds the patent for the Square card reader alongside Jack Dorsey. In March 2024, Mónica transitioned to Executive Chairman while joining Haun Ventures as a general partner, with McCauley continuing as CEO.

Beyond custody and stablecoin services, Anchorage Digital has expanded into wealth management through the acquisition of Securitize For Advisors and token lifecycle management by acquiring Hedgey. The company also launched its own venture capital arm in August 2025 to support early-stage blockchain protocols.

IPO Wave Hits Crypto Industry

Anchorage Digital’s fundraising plans arrive amid a wave of crypto companies pursuing public listings. BitGo, Anchorage’s main custody competitor, priced its IPO on January 12, 2026, offering 11.8 million shares at $15 to $17 per share to raise up to $201 million at a valuation of approximately $1.96 billion. The company is expected to begin trading on the New York Stock Exchange on January 22, 2026, under the ticker symbol BTGO.

Crypto exchange Kraken filed for a U.S. IPO in November 2025 and is targeting an early 2026 debut after raising $800 million at a $20 billion valuation. European crypto platform Bitpanda is planning a Frankfurt Stock Exchange debut in the first half of 2026, while Hong Kong-based HashKey is also pursuing a public listing.

The broader crypto market has shown renewed momentum entering 2026, with Bitcoin trading above $95,000 and Ethereum holding above $3,000, creating favorable conditions for institutional crypto firms to access public markets.

Regulatory Tailwinds Support Growth

In February 2025, CEO Nathan McCauley testified before the Senate Banking Committee about challenges facing federally regulated crypto companies, including debanking issues. In August 2025, the OCC formally lifted a consent order that had constrained some of Anchorage Digital’s operations, marking what the company described as a turning point proving that federally regulated crypto infrastructure is “operational, audited, and resilient.”

The company’s emphasis on compliance and regulated infrastructure positions it to benefit from the GENIUS Act’s stablecoin framework. McCauley stated in September 2025 that stablecoins are becoming “core plumbing in the digital financial system” rather than just a bridge between crypto and traditional finance.

Anchorage Digital currently provides custody, trading, and staking services for hundreds of digital assets. The firm also serves as custodian for digital assets seized or forfeited in criminal cases under a contract with the U.S. Department of Justice established in 2021.

Building America’s Stablecoin Blueprint

If Anchorage Digital successfully completes its fundraising and moves forward with an IPO in 2027, it would join a growing number of crypto infrastructure companies testing public markets. The company’s regulated status, federal charter, and strategic focus on stablecoins differentiate it from trading-focused crypto platforms that have faced greater regulatory scrutiny.

Market observers note that Anchorage Digital’s emphasis on compliance and institutional-grade infrastructure could appeal to public market investors seeking crypto exposure without extreme volatility. The company’s ability to issue stablecoins under federal oversight positions it at the center of efforts to maintain U.S. dollar dominance in the digital economy.

As institutional demand for digital dollars accelerates, Anchorage Digital’s expansion into stablecoin issuance represents a strategic bet that regulated digital currency infrastructure will become essential financial plumbing in the coming years.