Visa invests in crypto custodian Anchorage

Visa invests in crypto custodian Anchorage

Digital asset custody services provider Anchorage has raised $40 million in a Series funding round led by Blockchain Ventures and joined by Visa and Andreessen Horowitz.

Since launching in 2017, Anchorage has signed up a host of big name institutional investors as clients, helping them to keep their crypto assets safe.

The firm requires two members of a client to approve transactions and uses behavioural analytics to review requests before hardware security modules process the transaction.

Anchorage, which was recently included in the Facebook-led Libra Association, plans to use the latest funding to add support for new assets, and new features such as participating in on-chain governance, and to look into unlocking services beyond custody.

P Bart Stephens, managing partner, Blockchain Capital, says: "As our industry evolves, a growing number of crypto networks will depend on asset holders’ active participation in staking and governance. Anchorage’s next generation custody solution is ideally positioned to help investors keep up with the future direction of crypto networks.

"We are leading this investment because we believe Anchorage will have a transformative impact on the financial world."

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