Anchorage Digital is an institutional digital asset platform and the first and only federally chartered digital asset bank in the United States, founded in 2017 by Diogo Mónica and Nathan McCauley — both alumni of Square and Docker. Anchorage received a National Trust Bank charter from the Office of the Comptroller of the Currency (OCC) in January 2021, granting it the regulatory standing of a federal bank for digital assets. The company provides custody, trading, staking, governance participation, and settlement services to hedge funds, foundations, and government entities.
Background
Mónica and McCauley built Anchorage on the premise that institutional crypto custody required a fundamentally different security architecture than consumer wallets. Their approach used biometric and hardware device authentication combined with institutional-grade monitoring rather than traditional cold storage, enabling faster settlement without sacrificing security. Backers have included a16z Crypto, Andreessen Horowitz, GIC (Singapore’s sovereign wealth fund), and Goldman Sachs.
Key Products
| Product | Description |
|---|---|
| Anchorage Digital Bank | Federal trust bank for regulated institutional custody |
| Anchorage Custody | Secure storage for 50+ crypto assets with biometric key controls |
| Anchorage Trading | Institutional OTC and on-exchange trading desk |
| Anchorage Staking | Managed staking for Ethereum, Solana, Cosmos, and other PoS networks |
| Anchorage Governance | On-chain voting participation on behalf of institutional token holders |
| Anchorage Financing | Crypto-collateralized lending and borrowing for institutions |
OCC Charter Significance
The OCC charter distinguishes Anchorage from competitors like BitGo or Fireblocks: as a national trust bank, Anchorage can hold assets for clients with the full fiduciary protection of federal banking law. This is particularly important for U.S. institutional investors (pension funds, endowments, registered investment advisors) that have regulatory requirements around custodian selection.
Government and Foundation Clients
Anchorage has disclosed serving sovereign wealth funds, government entities, and major crypto project foundations (including serving as a validator and infrastructure provider for several large blockchain networks). The nature of institutional disclosure rules limits specific client disclosures.
History
- 2017 — Anchorage founded in San Francisco by Diogo Mónica and Nathan McCauley.
- 2019 — Raises $40M Series B; begins institutional custody operations.
- January 2021 — Receives National Trust Bank charter from the OCC; becomes the first federally chartered digital asset bank in the US.
- 2021 — Raises $350M Series D at $3B valuation, led by KKR; Singapore’s GIC sovereign wealth fund participates.
- 2022–2024 — Expands staking, governance, and financing services; serves government agencies and sovereign wealth funds.
Common Misconceptions
- “Anchorage is just another crypto custodian.” — Its OCC federal bank charter makes it structurally different from competitors like BitGo or Fireblocks. As a national trust bank, Anchorage can hold assets under federal fiduciary law, a meaningful distinction for regulated U.S. institutional investors.
- “Federal charter means Anchorage is government-controlled.” — The OCC charter establishes Anchorage as a regulated bank subject to federal oversight, not as a government-owned or government-directed entity. It remains a private company.
Social Media Sentiment
- r/CryptoCurrency / r/Bitcoin: Anchorage receives limited retail attention; primarily discussed in the context of institutional crypto adoption and the OCC federal bank charter milestone.
- X/Twitter: The 2021 OCC charter announcement was widely shared as a landmark for crypto legitimacy. Crypto-native audiences express concerns about KYC requirements and regulatory access to assets.
- LinkedIn / institutional circles: Anchorage’s products are discussed favorably as solutions to custody compliance requirements for pension funds, endowments, and RIAs.
Last updated: 2026-04
Related Terms
- Fireblocks — competing institutional crypto custody and settlement platform
- BitGo — institutional digital asset custody provider; primary competitor
- Proof of Stake — consensus mechanism underlying Anchorage’s managed staking services
- KYC — identity verification required for Anchorage’s regulated institutional services
See Also
- AML — anti-money laundering compliance framework Anchorage operates under as a federal bank
- Staking — service Anchorage provides for institutional clients across PoS networks
- a16z Crypto — primary venture backer of Anchorage
Sources
- Anchorage Digital Website — product overview.
- OCC Charter Approval — January 2021 federal charter.