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Visa Backs $40 Million Funding Round for Crypto Custodian Anchorage

Aug 09, 2019
byOmar Abbas

Crypto custody firm, Anchorage, has completed a $40 million Series B funding round with the backing of Visa, Blockchain Capital and Andreesen Horowitz; raising a total of $57 million since 2017.

Anchorage’s President and Co-Founder, Diogo Monica, said in a statement to Coindesk, “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.”

The additional investment will be used to expand its service offering and provide support for several more cryptocurrencies while boosting compliance and auditing. Anchorage’s custody solution has been included in the Libra Association – an organization founded by Facebook to develop a global cryptocurrency project to its +2 billion active users.

“This investment is consistent with Visa’s global strategy to partner with and invest in emerging fintech companies,” said Visa’s SVP and global head of fintech, Terry Angelos.