Anchorage Digital is seeking $200 million to $400 million in funding for a potential IPO next year, with plans to expand stablecoin, custody, and wealth management services to meet growing institutional demand. The company became the first federally chartered crypto bank in the U.S. and is positioning itself for a central role in stablecoin issuance.

As Washington formalizes rules around stablecoins and digital asset infrastructure, Anchorage’s regulatory standing sets it apart from rivals. The company plans to double the size of its stablecoin team to meet increased demand for dollar-backed digital tokens from banks, fintech firms, and global institutions. Anchorage aims to play a key role in stablecoin issuance following the passage of the GENIUS Act in July.

Anchorage’s IPO ambitions align with its strategic growth plans, including acquisitions, new partnerships, and the launch of stablecoin issuance. The company has a notable partnership with Tether to launch a U.S.-focused stablecoin known as USAT. Beyond stablecoins, Anchorage offers a suite of services for institutional clients, including custody, trading, and staking for banks, hedge funds, and venture capital firms.

Having previously raised $350 million in a funding round led by KKR & Co in late 2021, Anchorage is no stranger to large capital raises. The company is valued at over $3 billion and is preparing for another round of funding to support its expansion and IPO ambitions. Other major crypto firms are also eyeing public listings, reflecting renewed momentum for the industry in tapping public markets.

Read more at Yahoo Finance: Anchorage Digital Gears Up for IPO With $400M Fundraise