Private equity giant KKR plans to lead a new investment in crypto startup Anchorage, which offers crypto custody, trading and financing services for financial institutions, said two people familiar with the matter. The Series D funding values the San Francisco-based company at about $3 billion including the investment, one person said.
KKR’s investment underscores the private equity firm’s growing interest in the crypto industry, which Wall Street investors once avoided due to concerns about potential illicit behavior such as money laundering.
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The new funding also reflects the growth of crypto custody startups, which provide storage and security services for blockchain-based assets used by large financial institutions.
New York-based Fireblocks, which offers similar custody services to Anchorage, is also in talks with investors to raise a new round of cash at a valuation of approximately $8bn.
Source: The Information
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