Anchorage Digital is reportedly seeking to raise $200 million to $400 million as it evaluates a potential initial public offering next year, according to Bloomberg. The New York-based company declined to comment on both the fundraising process and any IPO plans.
Anchorage is best known as a digital-asset custodian, and its affiliated entity is the first federally chartered U.S. digital-asset bank. The report said the company is working through its valuation strategy while continuing to expand businesses tied to its federal banking status, including stablecoin issuance.
Federal charter supports expansion strategy
A major part of Anchorage’s positioning is its regulatory status. Its federal charter allows it to issue stablecoins under the GENIUS Act, giving the firm a notable advantage as crypto companies increasingly compete on compliance and infrastructure. Last year, Anchorage also announced a partnership with Tether Holdings SA to launch the USAT token for the U.S. market.
The company also has a history of raising institutional capital. In 2021, Anchorage raised $350 million in a round led by KKR. More recently, it described 2025 as “our year of scale”, pointing to acquisitions, partnerships, and new business lines as drivers of growth. It also moved deeper into tokenization through the acquisition of Securitize’s wealth arm.
IPO path still depends on market and regulation
Even so, no deal is guaranteed. The size of any fundraising round, the timing of a potential IPO, and the availability of a public listing will depend on final valuation, market conditions, and applicable U.S. regulatory approvals. For the broader crypto industry, Anchorage’s next capital markets step could serve as an important signal for how compliant digital-asset firms approach public market ambitions.