#What is Anchorage Digital Planning
Anchorage Digital is targeting a capital raise between $200 million and $400 million as it considers entering the US public market next year. This ambitious plan signifies the growing confidence and acceptance of cryptocurrency institutions within the broader financial ecosystem. As the first federally chartered crypto bank in the United States, Anchorage is well-positioned in a rapidly evolving landscape.
#How Does Anchorage Digital Compare to Its Competitors?
The impending capital infusion discussions arise shortly after BitGo, Anchorage's primary competitor in the custody space, filed its IPO plan with the SEC. BitGo is seeking to raise approximately $201 million at a valuation close to $1.9 billion. These movements indicate a burgeoning interest among crypto firms to pursue public offerings, following the successes experienced by other players like Circle, Gemini, and Bullish that went public last year.
#What Services Does Anchorage Provide?
Anchorage serves a broad spectrum of needs in the crypto market by offering an extensive suite of services, including custody, trading, and staking for various digital assets. This versatility makes it a compelling option for retail and institutional investors alike. The company benefits from backing by significant investors such as Goldman Sachs, Andreessen Horowitz, KKR, GIC, and Visa, which reinforces its credibility and financial strength in the sector.