Anchorage Digital and AngelList Partner Up to Enable Investments Using USDC

Anchorage Digital, a federally chartered digital asset bank, has partnered with well-known funding platform and talent board AngelList to invest using USDC. AngelList and Anchorage say they are bridging the gap between fiat currency and VC funding. AngelList, as an online investment platform, has helped to fund over 12,000 smaller firms via syndicates or funds. AngelList claims over $12 billion in assets supported, including 190 unicorns. In 2021 alone, AngelList facilitated $3.6 billion via syndicates and funds. AngelList remains one of the largest online investment platforms in the world, supporting early stage ventures.

USDC is a dollar-based stablecoin issued by Circle. It is the fourth most popular crypto in the world. USDC is frequently utilized as an on-and-off ramp in the crypto ecosystem. It provides a streamlined, low transaction cost method of moving value.

Anchorage Digital is the first and only crypto bank for institutions that is federally compliant with US banking laws.

AngelList notes that many of its users are already active in the crypto markets, so now they can use USDC to make investments.

AngelList states that this is one of the clearest and highest profile uses for a stablecoin yet “marking a significant milestone for the crypto industry.”

Diogo Mónica, President and co-founder of Anchorage Digital, said this paves the way for a more efficient and transparent system of funding the world’s most promising businesses.

“There’s no better trailblazer than AngelList to take this giant step forward for our industry.”

Aviok Kohli, CEO of AngelList, said that Anchorage accelerated its implementation efforts to incorporate USDC alongside fiat for investments.

“We look forward to expanding the partnership across other use cases on the platform.”

As part of the partnership, Anchorage is providing digital asset custody and execution services for AngelList. USDC trades sync with AngelList’s systems daily via API.

 

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