Institutional crypto firm Anchorage Digital is seeking to raise several hundred million dollars in new funding as it prepares for a potential initial public offering.
According to a Bloomberg report published Friday, citing sources familiar with the matter, the fundraising round is expected to fall between $200 million and $400 million. The people said the company is also targeting a possible IPO as early as next year, speaking on condition of anonymity.
Anchorage Digital’s banking arm, Anchorage Digital Bank National Association, became the first federally chartered crypto bank in 2021. The firm is now positioned to play a leading role in stablecoin issuance and related services following the passage of the GENIUS Act in July.
In September, Anchorage CEO Nathan McCauley said the company plans to double the size of its stablecoin team over the coming year to meet anticipated growth in demand for digital dollar products.
“2025 marked a year of scaling for us. We completed multiple acquisitions, secured major partnerships, and rolled out new business lines, including stablecoin issuance, to strengthen our leadership in institutional crypto,” an Anchorage spokesperson said in comments to Bloomberg.
Among those partnerships was an agreement with Tether, the issuer of the world’s largest stablecoin, USDT. In September, the two companies announced plans to launch a USAT token in the United States.
Anchorage continues to broaden its suite of crypto services, offering custody, trading, and staking solutions to banks, hedge funds, and venture capital firms, positioning itself as a regulated gateway for traditional financial institutions entering digital assets.
In December, the company expanded its wealth management capabilities through the acquisition of Securitize for Advisors and enhanced token lifecycle management by integrating Hedgey.
Anchorage last raised $350 million in late 2021 in a funding round led by KKR & Co., with participation from Goldman Sachs, GIC, and Apollo credit funds, valuing the firm at more than $3 billion.
Elsewhere in the industry, several crypto heavyweights are also preparing for public listings. Anchorage competitor BitGo filed S-1 paperwork in September to list on the New York Stock Exchange, while crypto exchange Kraken submitted its own S-1 in November and is targeting a public debut in early 2026.
