Story of Anchorage Digital: crypto platform for institutions, offering secure custody and trading with cold storage security and hot wallet access
Story of Anchorage Digital:
The Birth of Anchorage Digital
In 2017, two security engineers, Diogo Mónica and Nathan McCauley, realized
that the growing crypto market needed safer ways to protect digital assets.
Having worked together at Square and Docker, they knew the importance of
securing cryptographic keys. With backing from top investors like Andreessen
Horowitz, they launched Anchorage Digital in San Francisco, aiming to provide
secure custody for digital assets.
Building Trust with Institutions
Anchorage began by focusing only on custody services, working to convince
institutions that crypto could be stored safely. In 2019, their reputation grew
stronger when Visa invested in the company. This partnership not only provided
credibility but also opened doors for future collaborations that would shape
Anchorage’s path.
Expanding Services Beyond Custody
By 2020, Anchorage recognized that institutions needed more than just storage.
It made its first acquisition—Merkle Data—and launched trading services. This
move transformed Anchorage from a storage provider into a broader financial
platform, capable of helping clients buy, sell, and analyze crypto markets.
Becoming America’s First Crypto Bank
The year 2021 was a turning point. Anchorage received a federal banking charter
from the U.S. Office of the Comptroller of the Currency (OCC), becoming the
first and only federally recognized crypto bank in the country. This milestone
allowed Anchorage to handle not only custody but also governance, settlement,
and staking, while operating under the same oversight as traditional banks.
Handling U.S. Government Assets
Following its banking charter, Anchorage struck a historic deal with the U.S.
Department of Justice to provide custody for digital assets seized in federal
cases. This move highlighted Anchorage’s reliability and cemented its role as a
trusted partner for the government. Later that year, Anchorage secured a Series
D funding round, reaching a $3 billion valuation.
Story of Anchorage Digital: crypto platform for institutions, offering secure custody and trading with cold storage security and hot wallet access
Expanding Global Footprint
Anchorage grew internationally in 2022, creating a custody network with five
major crypto exchanges around the world. It also introduced institutional
staking for Ethereum and began supporting custody and trading of various new
digital assets, from stablecoins to specialized tokens. These steps pushed
Anchorage into the center of the global institutional crypto market.
Scaling Trading and Partnerships
The company continued its growth in 2023, expanding its trading services and
strengthening partnerships across the crypto ecosystem. As more institutions
entered the digital asset market, Anchorage became a go-to platform, offering
both liquidity and secure infrastructure.
Innovating with Porto Wallet
In 2024, Anchorage launched Porto, a self-custody wallet designed for
institutions. This tool gave companies more flexibility to directly manage
their assets while still relying on Anchorage’s infrastructure for security.
The same year, Anchorage introduced its settlement network, Atlas, which
simplified the transfer of assets between counterparties.
Regulatory Wins and Compliance
Anchorage also achieved another milestone in 2024 by securing a BitLicense from
New York State, one of the most challenging crypto licenses to obtain. With
this, Anchorage joined a small group of highly regulated crypto firms,
strengthening its position as a compliant, trustworthy partner for global
institutions.
The Anchorage Digital Platform Today
Anchorage now offers much more than custody. Its services include trading,
staking, governance, settlement, and even fiat integration. Clients can deposit
and withdraw U.S. dollars alongside digital assets, making it easier for
corporate treasuries to manage finances. This one-stop approach allows
Anchorage to serve institutions with seamless execution and strong security.
The Security-First Foundation
Founders Mónica and McCauley brought their background as security engineers to
every layer of Anchorage’s platform. Transactions are verified with biometric
checks, cold storage reduces hacking risks, and every feature is designed for
institutional reliability. This security-first approach continues to be the
backbone of Anchorage’s success.
Serving the Institutional Wave
As more corporations—from blockchain startups to traditional businesses—adopt
Bitcoin and other digital assets, Anchorage plays a key role. It offers
tailored treasury solutions, from delayed settlements to advanced trading
tools, helping institutions treat Bitcoin not just as speculation but as a
strategic reserve asset.
Anchorage’s Place in the Future of Finance
Anchorage stands out as the only federally chartered crypto bank in the U.S.
and a global leader with licenses in Singapore and New York. By bridging
traditional finance and crypto, it provides the regulatory assurances
institutions need to confidently embrace digital assets.
Looking Ahead
With its strong foundation, Anchorage aims to push digital finance further. Its
vision is clear: combine security, regulatory trust, and innovation to build
the world’s most reliable platform for institutions in crypto. As the industry
grows, Anchorage is not just keeping pace—it’s setting the standard for
institutional adoption worldwide.
