Anchorage, an institutional-focused crypto bank, has completed a $350 million Series D funding round with a $3 billion valuation led by KKR, Reuters has reported.
Among the participants were Goldman Sachs, Andreessen Horowitz, Alameda Research, Apollo, Wellington Management, BlackRock, Blockchain, Kraken and PayPal Ventures.
Licensed by the Office of the Comptroller of the Circulation under the US Treasury, Cryptobank offers storage, staking, digital asset lending and trading, and infrastructure solutions. In the future, the expansion of this line is not excluded, in particular on DeFi.
Anchorage will use the funds received to international expansion and support the initiatives of banks and corporations to create cryptocurrency products for clients. In an interview with Decrypt, CEO Diogo Monica predicted this could happen in the second half of 2022.
According to the company, its customer base grew by 96% in 2021. The storage of digital assets generates less than 50% of the revenue against the background of the development of other lines of business.
Anchorage has no plans for an IPO, Monica said.