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Private Equity Giant KKR Plans to Back Anchorage Fundraise at $3B Valuation: Report
The crypto custody platform previously raised $80 million in a funding round in February.
By Brandy Betz
Updated May 11, 2023, 7:05 p.m. Published Nov 18, 2021, 4:39 p.m.
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Private equity firm KKR plans to lead a Series D investment round for crypto platform Anchorage, according to a person quotes by The Information. The funding would reportedly push Anchorage up to a roughly $3 billion valuation.
- San Francisco-based Anchorage is a crypto custody platform that lets institutional investors safely hold and use crypto. Anchorage was the first crypto firm to receive a U.S. federal banking charter from the Office of the Comptroller of the Currency, making Anchorage the first nationwide digital asset bank.
- In October, sources told CoinDesk that Anchorage was planning to raise a large new funding round at a $2 billion to $3 billion valuation.
- Anchorage raised an $80 million Series C in February of this year, but did not disclose the valuation at that time.
- KKR had $459 billion in assets under management as of its third-quarter results reported earlier this month. In September, the firm made its first blockchain-related investment by backing the flagship fund of ParaFi Capital, which focuses on decentralized finance markets. KKR also reportedly established a working group dedicated to determining the best use cases for blockchain technology.
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Financial giant with $3.5 trillion asset to pilot Trump-affiliated WLFI stablecoin for tokenized funds
The financial giant with $3.5 trillion in assets has teamed up with World Liberty Financial to test the USD1 stablecoin for fund flows and tokenized assets.
What to know:
- Apex Group is partnering with World Liberty Financial, a crypto firm affiliated with former President Donald Trump, to pilot WLFI’s USD1 stablecoin as a payment rail in traditional fund operations.
- The pilot will test using the USD1 stablecoin for subscriptions, redemptions and distributions across Apex’s tokenized fund ecosystem.
- As part of the collaboration, Apex will explore listing WLFI tokenized assets on the London Stock Exchange Group’s Digital Market Infrastructure platform, while WLFI plans a mobile app linking bank accounts to digital asset wallets.
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