(BlockBar) Anchorage, a cryptocurrency custody provider for institutional investors, has raised $40m in series B funding, according to a statement on Wednesday. The investment was led by blockchain Capita. Payment giant Visa and venture Capital firm Andreessen Horowitz joined the funding. It’s worth noting that Anchorage, Visa and Andreessen Horowitz are among the founding members of Facebook’s upcoming Libra cryptocurrency.
Diogo Monica, Anchorage’s co-founder and President, told fortune that his team worked with Facebook to design Libra’s technical foundation from the start.
Terry Angelos, Visa’s head of FinTech, said in a statement that Visa intended to support “companies like Anchorage that are working to provide secure infrastructure for the growing digital asset ecosystem.” He said Anchorage was “building the foundation to support a new range of financial services.”
The Anchorage’s end-to-end insurance is provided by Aon. Anchorage mentioned earlier, the problem with encrypted custody providers is that it does not cover all equally. For most custody institutions use a combination of hot wallet and cold storage, and different parts of the strategy may have different strategies, which could lead to differences in coverage. The Anchorage solution is based on new technologies that go beyond cold storage to involve offline assets online. So it works with insurance company to develop new insurance policies that cover “end-to-end” digital assets throughout the ecosystem.
According to the firm, it has incorporated a “custom logic” in its hardware security module (HSM), Which the processes of a given transaction only by following the “multiple” the layers of biometric authentication. This approach allows clients to use their keys for the transactions, audits, staking, voting and more, “In real time and without ever being removed from safe storage.”
Anchorage has about 35 employees and supports bitcoin, ethereum and more than 50 other ditial currencies. Monica said the investment will go toward supporting “all digital assets and crypto-native features,” including staking and on-chain governance; integrating custody service with other financial offerings; and investing further in auditing and compliance measures
So far, Anchorage has raised $57 million in two funding rounds, including a recent cash injection.
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