Anchorage Digital Success Story: Developing Solutions for the Future of Capital

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The blockchain industry is booming, with an expected market size of $67.4 billion by 2026. With the blockchain market growing, financial institutions, fintech companies, and governments are looking for platforms to manage their digital assets, including cryptocurrencies.

Digital asset management is all about efficiently storing, organizing, managing, and transacting digital assets with the help of a robust infrastructure. Anchorage Digital is a US-based private company famous for offering digital asset financial services and infrastructure facilities.

This article highlights every crucial detail about Anchorage Digital: its startup story, founders, products and services, funding, investors, future plan, and more.

Anchorage Digital - Company Highlights

Anchorage Digital - About
Anchorage Digital - Founders
Anchorage Digital - Startup Story
Anchorage Digital - Mission and Vision
Anchorage Digital - Business Model
Anchorage Digital - Products and Services
Anchorage Digital - Funding and Investors
Anchorage Digital - Mergers and Acquisitions
Anchorage Digital - Growth
Anchorage Digital - Partners
Anchorage Digital - Awards and Achievements
Anchorage Digital - Competitors
Anchorage Digital - Future Plans

Anchorage Digital - About

Anchorage Digital is a digital asset financial services and infrastructure provider that helps clients deal with holding, investing, and infrastructure for cryptocurrency and cryptocurrency products. In addition, the company offers a digital bank as a crypto-native bank and crypto strategies for leading institutions.

With offices in San Francisco, New York, Portugal, Singapore, South Dakota, and Asia, Anchorage Digital provides its offerings to a global roaster of institutional clients, including SEC-registered investment advisors, crypto protocols, asset managers, and venture capital firms.

Anchorage Digital - Founders

Diogo Monica and Nathan McCauley co-founded Anchorage Digital in 2017.

Diogo Monica

Diogo Monica graduated with a BSc and MSc in Communication Networks Engineering and a Ph.D. in Computer Science – Network Security from Instituto Superior Tecnico.

He commenced his career as a Platform Security Lead at Square Inc and then worked as Security Lead at Docker, Inc. Additionally, he held the role of Advisor at Airtable, StackRox, and Jscrambler.

Presently, he is working as the Founder and President of Anchorage Digital.

Nathan McCauley

Nathan McCauley co-founded Anchorage Digital and is the company’s CEO. Previously, he worked as Technical Product Manager / Software Engineer at Arxan Technologies and Security Engineering Manager / Security Engineer at Square.

He has also been the Director at Docker, Inc and Board Director at Vendor Security Alliance.

Anchorage Digital has a team of more than 300 employees.

Anchorage Digital - Startup Story

Diogo Monica and Nathan McCauley founded Anchorage Digital in 2017 with its early investors, Andreessen Horowitz and Blockchain Capital. In 2019, Visa invested in the company and used it to provide cryptocurrency payment services. It added trading and financial services in 2020.

Later in 2020, Anchorage Digital established its first engineering hub in Porto, Portugal, and is the first cryptocurrency unicorn with a presence in that nation. Furthermore, Anchorage Digital Bank received its banking chart from the Office of the Comptroller of the Currency in 2021. It made it America’s first federally chartered cryptocurrency bank.

The same year, it entered into a contract with the United States Department of Justice to act as custodian for all digital assets seized or forfeited in criminal cases. Anchorage Digital was valued at over $3 billion in December 2021. In 2022, the company became the first federally chartered bank to custody an NFT.

Anchorage Digital - Mission and Vision

Anchorage Digital’s mission is to invent solutions for the future of capital. Moreover, its vision is to be the foundation upon which value can safely move in the new global economy and let innovation grow without bounds.

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Anchorage Digital - Business Model

Anchorage Digital works with America’s first federally chartered crypto bank and Anchorage Digital Singapore (which offers equivalent security and service standards) to provide institutions with an unparalleled combination of secure custody, product breadth, regulatory compliance, and client service.

The company acts as a custodian of digital assets for financial institutions and governments. Moreover, it stores and secures cryptocurrency using biometric authentication and hardware security modules.

Anchorage Digital - Products and Services

Anchorage Digital serves as custodian of digital assets and also provides lending and trading of digital assets. In addition, it offers multiple crypto services, including security, risk monitoring, safekeeping, compliance, and fiduciary obligations.

The company launched Build With Anchorage Digital to link every business with crypto through its safe, regulated, and secure infrastructure.

Anchorage Digital - Funding and Investors

Anchorage Digital has undertaken 5 funding rounds and raised a total of $487 million. Its latest funding round - Series D Round, was conducted on December 15, 2021, and raised $350 million. 32 investors fund the company, of which 4 are lead investors, including Blockchain Capital Kraken, Golden Tree Asset Management, and Andreessen Horowitz.

Anchorage Digital - Mergers and Acquisitions

Anchorage Digital acquired Merkle Data in 2020 for an undisclosed amount.

Anchorage Digital - Growth

The estimated annual revenue of Anchorage Digital was $63 million per year, with a $3 billion valuation in March 2023. Moreover, the monthly web visits grew by -21.08%, with 11,120 visits.

Anchorage Digital - Partners

Anchorage Digital has partnered with:

• AngelList
• Apollo
• iHeartMedia
• Agoric
• Bitkub
• Dream Trade
• FBG Capital
• GMO-Z.com Trust Company
• IOSG Ventures
• Antalpha

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Anchorage Digital - Awards and Achievements

Anchorage Digital Bank is recognized as the first known United States bank to custody an NFT by facilitating a purchase for Visa.

Anchorage Digital - Competitors

Some of its main competitors are:

• Coinbase
• BitGo
• CoinZoom
• Bitcoin Suisse
• AmbiVault

Anchorage Digital - Future Plans

Anchorage Digital plans to use the bear market as a time to build with its institutional partners in the face of more macroeconomic uncertainty while paving the path for a safe, secure, and regulated digital asset ecosystem.

FAQs

What does Anchorage Digital do?

Anchorage Digital is a digital asset financial services and infrastructure provider that helps clients deal with holding, investing, and infrastructure for cryptocurrency and cryptocurrency products.

Who are the founders of Anchorage Digital?

Diogo Monica and Nathan McCauley co-founded Anchorage Digital in 2017.

Who are the top competitors of Anchorage Digital?

Some of Anchorage Digital's top competitors are:

• Coinbase
• BitGo
• CoinZoom
• Bitcoin Suisse
• AmbiVault