A Crypto Custody Firm Secured $40 Mln in Series B Funding Round Led by Blockchain Capital and Visa

By Brian Nguyen | July 11, 2019
A Crypto Custody Firm Secured $40 Mln in Series B Funding Round Led by Blockchain Capital and Visa

Anchorage – a US-based crypto custody services provider – has just secured $40 million after a Series B funding round.

As announced on Wednesday July 10, in a funding round led by Blockchain Capital, with participation from Visa Inc. and Andreessen Horowitz, Anchorage has managed to secure a total of $57 million, starting from 2017 up to now.

“Our mission at Anchorage is to advance institutional participation in the digital asset class, and this funding will improve our ability to do precisely that. To have the support of pioneering organizations like Visa and Blockchain Capital is a validation of Anchorage’s vision for the emerging economy of digital assets.” Anchorage co-founder and president Diogo Monica claimed.

The money will be devoted to the creation of new services, as Anchorage has plans to facilitate “all digital assets”, together with integrating its offerings with different financial services establishments, to achieve enhanced compliance and auditing.

“This investment is consistent with Visa’s global strategy to partner with and invest in emerging fintech companies. We’re pleased to add Anchorage to our growing investment portfolio.” Terry Angelos, SVP and global head of fintech at Visa said.

Anchorage has been developing the next generation of crypto assets. Its custody tool has been added to Libra Association – a crypto project being built by Facebook which has been the talk of the town recently.

Old fashioned cold storage will not be able to satisfy the requirements of institutions dealing in crypto in the future anymore, according to Monica. Users prefer to have an option of voting and governance decisions in numerous protocols, such as Maker and Tezos.

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