Institutional crypto platform Anchorage Digital is looking to raise between $200 million and $400 million in new capital as it prepares for a possible IPO in 2027, according to Bloomberg reports from sources familiar with the matter. The company has not publicly confirmed these plans.
The New York-based company 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 focuses heavily on stablecoin issuance and associated services. CEO Nathan McCauley announced plans to double the company’s stablecoin team over the next year to meet growing institutional demand for regulated digital dollars.
The company described 2025 as its “huge year,” making strategic acquisitions, entering into major partnerships and launching new business lines, including stablecoin issuance. Key partnerships include a collaboration with Tether to launch USAT, a US-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, which would position Anchorage Digital’s timeline in line with the market’s projected 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 Advantage
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 stablecoin custody, trading, staking and now 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 companies can now operate as federally chartered national trust banks, increasing 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 company to the same oversight as traditional national banks.
Strong institutional support
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 credit funds Goldman Sachs, GIC and Apollo. 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 became Executive Chairman while joining Haun Ventures as General Partner, with McCauley remaining 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 through the acquisition of 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 come amid a wave of crypto companies seeking to list on stock exchanges. BitGo, Anchorage’s top custody competitor, has priced its IPO on Jan. 12, 2026, offering 11.8 million shares at $15 to $17 per share to raise up to $201 million at a valuation of about $1.96 billion. The company is expected to begin trading on the New York Stock Exchange on January 22, 2026, under the symbol BTGO.
Crypto exchange Kraken filed for a US IPO in November 2025 and is targeting an early 2026 debut after raising $800 million at a $20 billion valuation. European crypto platform Bitpanda plans to debut on the Frankfurt Stock Exchange in the first half of 2026, while Hong Kong-based HashKey is also considering a public listing.
The broader crypto market has shown new momentum heading into 2026, with Bitcoin trading above $95,000 and Ethereum above $3,000, creating favorable conditions for institutional crypto companies to enter the public markets.
Regulatory tailwinds support growth
In February 2025, CEO Nathan McCauley tested before the Senate Banking Committee the challenges facing federally regulated crypto companies, including debanking issues. In August 2025, the OCC officially lifted a consent order that had restricted certain operations of Anchorage Digital, marking what the company described as a turning point proving that federally regulated crypto infrastructure is “operational, audited, and resilient.”
The company’s focus on compliance and regulated infrastructure allows it to benefit from the GENIUS Act stablecoin framework. McCauley said in September 2025 that stablecoins have become “the central plumbing of the digital financial system” rather than simply a bridge between crypto and traditional finance.
Anchorage Digital currently provides custody, trading and staking services for hundreds of digital assets. The company also serves as a custodian of digital assets seized or confiscated in criminal cases under a contract with the U.S. Department of Justice established in 2021.
Building the American stablecoin blueprint
If Anchorage Digital successfully completes its fundraising and proceeds with an IPO in 2027, it will join a growing number of crypto infrastructure companies testing the 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 focus on compliance and institutional-grade infrastructure could attract public market investors seeking crypto exposure without extreme volatility. The company’s ability to issue stablecoins under federal oversight puts it at the center of efforts to maintain the U.S. dollar’s 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 years to come.