Cryptocurrency custodian and banking company Anchorage announced Thursday that it raised $80 million in a Series C funding round.
The round was led by Singaporean sovereign wealth fund GIC, with participation from a16z, Blockchain Capital, Lux, and Indico.
With fresh capital at hand, Anchorage looks to expand its custody and banking services among institutional customers.
“This new round of funding will help us help institutions participate in new ways — by bringing crypto to their users, by diversifying their corporate treasuries, and by enabling a wide range of emerging use cases,” said Anchorage co-founders Diogo Mónica and Nathan McCauley.
Anchorage, which recently became the first federally chartered digital asset bank, also looks to scale its lending product and support new DeFi protocols, said Mónica and McCauley.
The Series C brings Anchorage’s total funding to date to $137 million. The firm has previously raised a total of $57 million in several rounds, according to Crunchbase.