Anchorage Digital, the first federally chartered digital-asset bank, has reached a $4.2 billion valuation following a $100 million investment from stablecoin issuer Tether.
According to a note from the firm, the investment coincides with Tether enlisting Anchorage to issue a new US dollar stablecoin, USA₮. Tether is already the largest stablecoin issuer with USDT, but by working with Anchorage, Tether quickly achieves compliance under the GENIUS Act.
Nathan McCauley, co-founder and CEO of Anchorage Digital, said the investment signaled conviction from one of the most sophisticated operations in the digital asset sector.
“At the same time, launching our first employee tender offer allows us to reward the builders who believed early and stayed the course. We’ve always said we’re building a generational company—and this is what that looks like in practice.”
Tether CEO Paolo Ardoino says the company is building the global infrastructure for freedom.
“Our investment in Anchorage Digital reflects a shared belief in the importance of secure, transparent, and resilient financial systems. Anchorage Digital has set the standard for institutional digital asset infrastructure and U.S. stablecoin issuance, and we are pleased to support its continued growth.”
Anchorage Digital has also announced its first employee tender offer, thus providing liquidity to its team members who have helped build the company over nearly a decade. The liquidity arrives at the $4.2 billion valuation.
Anchorage has emerged as a key participant in the digital asset infrastructer ecosystem. Due to timing and a bit of luck, Anchorage’s ability to be approved as a chartered bank gave it a head start in the digital asset industry.
Anchorage is a good prospect for an initial public offering or the acquisition by an establishment financial services firm who wants to leapfrog competitors.
Tether has had a choppy history, but its persistence has paid off, and it is now well positioned as both a stablecoin and an infrastructure firm.
The investment/partnership is emblematic of the fast moving digital asset industry which will soon be the norm.