The United States' first crypto bank valued at $3 billion, plans to go public and expand stablecoin operations

Source: Yellow Original Title: First U.S. crypto bank valued at $3 billion plans IPO as institutions bet on custody and stablecoin rails

Original Link: Anchorage Digital is evaluating a new funding round while exploring potential pre-IPO prospects, reflecting growing confidence among regulated digital asset companies amid recent market volatility.

This New York-based company, whose subsidiary operates the United States’ first federally chartered digital asset bank, is considering raising $200 million to $400 million before a possible IPO next year.

The funding timeline and valuation are still under discussion. Anchorage declined to comment on the funding plans or potential listing.

Stablecoin Regulation Redefines Growth Strategy

Anchorage’s expansion coincides with deeper integration of stablecoins into the regulated financial system.

Under the GENIUS Act signed in July, Anchorage Digital Bank NA is among a limited group of institutions authorized to issue dollar-backed stablecoins.

This regulatory status places the company at the heart of institutional crypto activity, especially as banks, asset managers, and payment firms seek compliant digital dollar infrastructure.

In September, Anchorage announced a partnership with Tether Holdings to support the launch of USAT tokens in the U.S. market.

The collaboration highlights a broader shift in the crypto industry, as federal regulators increasingly work with large native crypto liquidity providers.

CEO Nathan McCauley stated that the company plans to significantly expand its stablecoin team, citing increased demand for digital dollars following new legislation and a rekindling of institutional investor interest earlier this year.

Institutional Support and Market Context

Anchorage’s last funding round was at the end of 2021, when it raised $350 million in a funding led by KKR, with participants including a top-tier investment firm, GIC, and a global asset management company, valuing the company at over $3 billion.

As a new funding momentum emerges, cryptocurrency prices experienced a pullback at the end of October.

Nevertheless, infrastructure companies focused on custody, payments, and stablecoins continue to attract investor interest, reinforcing the growing view that regulated crypto platforms can serve as long-term financial tools rather than just cyclical investments.

If Anchorage proceeds with an IPO, it will be one of the most significant tests to date for a federally regulated digital asset bank in the public markets.