In a financial world racing to bridge the gap between traditional banking and digital assets, Anchorage Digital has carved out a unique place for itself. Founded in 2017, the San Francisco-based firm is best known as the first federally chartered crypto bank in the United States — a title that has made it a key player in legitimizing institutional crypto services.
But Anchorage’s story is more than a milestone. It’s a case study in how trust, regulation, and technology are converging to shape the future of digital finance.
Origins: From Tech Security to Digital Custody
Anchorage Digital was co-founded by Diogo Mónica and Nathan McCauley, two security engineers who first worked together at Square (now Block, Inc.) and later at Docker. Their experience in safeguarding complex software systems gave them front-row insight into a growing problem: crypto needed institutional-grade security and compliance — something the market lacked in 2017.
That realization led to Anchorage’s creation. The pair raised funding from Andreessen Horowitz (a16z) and other crypto-focused VCs, then went on to attract backing from Visa and Goldman Sachs, a sign of growing trust from the traditional finance world.
While headquartered in San Francisco, Anchorage has since expanded globally, with operations across Europe and Asia.
In early 2024, co-founder Diogo Mónica stepped down as president to join a venture capital firm but remained Executive Chairman of Anchorage and Chairman of the NEAR Foundation. McCauley continues to serve as CEO.
Key Milestones: Anchorage Through the Years
Anchorage’s evolution mirrors the broader trajectory of institutional crypto adoption.
2019: Visa invests in Anchorage, setting the foundation for future collaborations.
2020: The company makes its first acquisition, Merkle Data, and launches trading services, expanding beyond custody.
2021: A landmark year — Anchorage receives a federal banking charter from the U.S. Office of the Comptroller of the Currency (OCC), becoming the first and only federally regulated crypto bank. Later that year, it partners with the U.S. Department of Justice (DoJ) to provide custody for seized digital assets. Anchorage also closes a funding round valuing it at $3 billion.
2022: The company launches a custody network with several global exchanges and begins offering institutional ETH staking, expanding its service suite to include new digital assets.
2023: Anchorage continues scaling its institutional trading services, reinforcing its position as a trusted infrastructure provider.
2024: The company debuts Porto, an institutional self-custody wallet, and Atlas, its settlement network. It also earns a BitLicense from New York State, joining a small group of regulated crypto firms including Bitstamp by Robinhood, Circle, and Robinhood Crypto.
What Anchorage Digital Offers
Anchorage began as a crypto custody provider — and that remains its cornerstone. But over the years, it has expanded into settlement, trading, staking, and self-custody services designed for institutional clients.
1. Institutional Custody
Anchorage secures a wide range of digital assets, including cryptocurrencies, stablecoins, and NFTs. Its infrastructure combines cold storage, biometric verification, and multi-party computation (MPC) to prevent unauthorized access and minimize hacking risk.
In 2024, it launched Porto, a self-custody wallet tailored for institutions that prefer to manage their own keys while still integrating with Anchorage’s compliance and settlement tools.
2. Atlas Settlement Network
Anchorage’s Atlas network (short for Anchorage Trusted Liquidity and Settlement) enables seamless on-chain settlement between counterparties. The platform is designed to minimize friction in institutional trading — ensuring that large crypto transactions settle securely, efficiently, and in compliance with regulatory standards.
3. Institutional Trading and Staking
Anchorage offers 24/7 institutional trading for over 400 digital assets, allowing clients to buy, sell, and settle directly from custody accounts. It also serves as a fiat on- and off-ramp, enabling transactions in U.S. dollars.
Its staking services give institutions a way to earn rewards by locking up assets like Ethereum (ETH), Aptos (APT), and Osmosis (OSMO) without compromising security or custody standards.
Why Anchorage Stands Out
Anchorage Digital occupies a rare position at the crossroads of crypto innovation and regulatory compliance. It’s not just another custody solution — it’s a federally recognized institution designed for the needs of banks, funds, and corporations entering Web3.
Key differentiators include:
- Regulatory clarity: The OCC charter gives Anchorage unique legitimacy among U.S.-based crypto firms.
- Institutional trust: Partnerships with Visa, Goldman Sachs, and the DoJ reinforce its credibility.
- Security-first approach: Biometric approvals, cold storage, and regulatory-grade infrastructure reduce counterparty risk.
- Comprehensive suite: From custody to settlement and staking, Anchorage functions as a full-service crypto bank.
The Bigger Picture
As regulators tighten their grip on digital assets, Anchorage Digital represents a path forward for institutional adoption — one built on trust, compliance, and secure infrastructure.
Its model demonstrates that crypto and traditional finance don’t have to exist on opposite ends of the spectrum. Instead, they can merge — safely, transparently, and at scale.
Key Takeaways
- Founded: 2017 by Diogo Mónica and Nathan McCauley
- Headquarters: San Francisco, with global operations
- Major investors: Andreessen Horowitz, Visa, Goldman Sachs
- Milestones: First U.S. federally chartered crypto bank (2021); BitLicense holder (2024)
- Core services: Custody, trading, staking, settlement (Atlas), and self-custody (Porto)
