Anchorage, a depositary services provider for institutional investors, raised $ 40 million in the investment round B. Major investors included payment giant Visa, venture capital firm Blockchain Capital and Andreessen Horowitz.
Investments will support digital assets, including equity management; integration of custodial services with other financial proposals and further investment with an appropriate audit.
Accounting, tax preparation and auditing are the “main pain points” of institutional investors who want to add digital assets to their portfolios.
Our mission in Anchorage is to promote institutional participation in the digital asset class, and this funding will increase our level in this direction, said co-founder and president Diogo Monica.
Anchorage claims to offer a “smart storage” solution that outperforms “hot wallets” and “cold storage”. The competitors of the custodial service, Coinbase and BitGo, on the contrary, store clients’ assets in cold storage.
An investment round closed on Wednesday raised total funding for Anchorage to $ 57 million. Earlier in the round A, the company managed to raise $ 17 million.