Crypto Bank Anchorage Digital Eyes $400M Raise with IPO in Sight

Anchorage Digital, a leading crypto custody and financial services firm, is reportedly preparing to raise between $200 million and $400 million in fresh capital. The firm is also eyeing a potential initial public offering (IPO) that could take place in 2027. The move reflects broader confidence in the crypto sector and regulatory progress in the United States.

The firm's capital raise is expected to support expansion and operational scaling, particularly in the stablecoin segment. Anchorage Digital Bank, the firm's federally chartered subsidiary, became the first crypto bank in the U.S. in 2021 and is now well-positioned to lead stablecoin innovation following the passage of the GENIUS Act in July.

Anchorage CEO Nathan McCauley has indicated plans to double the company's stablecoin team over the next year. This growth strategy aligns with industry expectations for increased demand for digital dollar-based products and services.

Why Did This Happen?

The firm's fundraising plans come amid a broader trend of institutional interest in crypto assets. JPMorgan analysts noted in recent reports that crypto inflows in 2026 are expected to exceed the $130 billion seen in 2025. This shift reflects growing adoption by institutional investors and a return to optimism after a period of subdued activity.

Regulatory developments are also playing a key role. The Office of the Comptroller of the Currency has shown increased openness to crypto firms seeking bank charters. This shift has opened new opportunities for companies like Anchorage and its competitors, including Ripple and Paxos.

How Did Markets React?

Market onlookers have long speculated that Anchorage is preparing for an IPO. The firm was last valued at $3 billion. While no official confirmation has been provided, the move aligns with broader industry trends. Competitors like BitGo have already filed for IPOs, and others such as Kraken and HashKey are also exploring public offerings in their respective regions.

The crypto custody and stablecoin sectors are attracting significant attention from traditional financial institutions. Bankinter, a Spanish bank, recently invested $34 million in Bit2Me, a crypto exchange, to support its expansion in the EU. This move highlights the growing integration of crypto services into traditional banking operations.

What Are Analysts Watching Next?

Analysts are closely watching the regulatory environment and investor sentiment. JPMorgan analysts believe that the composition of crypto flows will shift in 2026, with a stronger focus on institutional adoption. This could be accelerated by potential U.S. legislation, such as the crypto market structure bill, which could provide additional clarity for market participants.

In addition, global developments are shaping the landscape. Pakistan recently signed an agreement to explore integrating World Liberty Financial's USD1 stablecoin into its cross-border payments infrastructure. This is one of the earliest sovereign partnerships for a Trump-backed stablecoin protocol.

Meanwhile, South Korean financial giant KB Kookmin Card has filed a patent for a stablecoin credit card. The innovation aims to make digital asset payments more accessible by integrating stablecoins with traditional card infrastructure. Such developments highlight the growing role of stablecoins in mainstream financial systems.

Anchorage's move to raise capital and consider an IPO is part of a larger trend of crypto firms seeking to expand into new markets and gain institutional traction. As regulatory clarity improves and institutional demand grows, the firm is well-positioned to capitalize on these opportunities.