Anchorage Digital seeks to raise up to KRW 590 billion ahead of its IPO, expanding its stablecoin business in earnest.

Anchorage Digital seeks to raise up to KRW 590 billion ahead of its IPO.

Anchorage Digital, the first federally chartered cryptocurrency bank in the United States, is preparing for an initial public offering (IPO) and seeking up to $400 million (approximately KRW 590.4 billion) in new funding. The company is focusing on expanding its stablecoin business as a key growth driver this year, spurring a competitive edge.

According to a Bloomberg report on the 16th, citing sources, Anchorage is seeking to raise between $200 million and $400 million (approximately KRW 295.2 billion and KRW 590.4 billion), and the IPO is likely to be pushed forward sometime next year.

Anchorage made its mark in the industry by receiving a federal banking charter from the U.S. Treasury Department's Office of the Comptroller of the Currency (OCC) in 2021 through its subsidiary, Anchorage Digital Bank National Association. In 2025, the company solidified its position by entering the stablecoin issuance market through full-scale business expansion. Notably, following the passage of the GENIUS Act by the U.S. Congress in July of last year, demand for stablecoins has surged, further boosting Anchorage's business.

Nathan McCauley, CEO of Anchorage, announced in September of last year that he expected demand for the digital dollar to explode and planned to double the size of his dedicated stablecoin team by next year. Indeed, Anchorage fully entered this market last year, partnering with the giant stablecoin issuer Tether to launch its "USAT" token in the United States.

Anchorage has also solidified its position as an institutional platform by providing comprehensive services for traditional financial institutions, including custody (cryptocurrency storage), trading, and staking. Late last year, it acquired Securitize For Advisors to strengthen its asset management services and integrated Hedgey to expand its token lifecycle management capabilities.

The company stated, "2025 was a year of business expansion. Through various acquisitions, key partnerships, and entry into the stablecoin business, we solidified our leading position in the institutional cryptocurrency market."

Anchorage also raised $350 million (approximately KRW 516.6 billion) in 2021 with investments from KKR, Goldman Sachs, GIC, and Apollo, valuing the company at over $3 billion (approximately KRW 4.428 trillion).

Meanwhile, several cryptocurrency companies, including Anchorage, BitGo, and Kraken, have also begun IPO procedures, aiming for a listing in 2026. BitGo filed its S-1 document with the New York Stock Exchange (NYSE) in September of last year, and Kraken is also preparing for an IPO, filing the same document in November.

As the US stablecoin regulatory framework matures and the institutional investor market grows, Anchorage's efforts are likely to lead to a more substantial market dominance.

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This article was summarized using a TokenPost.ai-based language model. Key points in the text may be omitted or inaccurate.

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