Visa participates in $40 million investment in crypto firm Anchorage

Anchorage, a crypto-custody service provider to institutional investors, has closed its B-series fundraising round at $40 million.

As reported in Anchorage, the current round was headed by Blockchain Capital, and among its other participants were Visa and existing investors, such as Andreessen Horowitz. The total amount of financing raised by Anchorage since 2017 amounted to $57 million.

"The mission of Anchorage is to develop services for institutional investors in the field of digital assets. The funding will strengthen our ability to meet this challenge," said co-founder and President of Anchorage Diogo Monica. - Supporting leading organizations such as Visa and Blockchain Capital is a testament to Anchorage's vision of a growing digital asset economy.

Anchorage plans to implement support for "all digital assets", as well as integrate its products into the services of third-party financial companies and improve audit capabilities.

This is Visa's first direct investment in a crypto-custodial firm. In 2015, however, the payment giant, together with Nasdaq and Citi, already participated in the $30 million Chain blockchain startup fundraising round.