Anchorage Digital, AngelList Partnership Enables Investors to Invest with USDC
Diogo Mónica and Nathan McCauley
AngelList users have existing exposure to sector-focused venture capital funds, like 6529 NFT Fund and Curated Fund. But through a new partnership with Anchorage Digital, AngelList users are now able to go beyond investing in the digital asset ecosystem, and actively participate in it, by using the USDC stablecoin to fund their special purpose vehicles (SPVs) and funds of choice via the Ethereum network.
Both San Francisco-born companies have earned a reputation for bringing novel technologies and companies into the mainstream: As home to the first operational federally-chartered digital asset bank, Anchorage is the leading OCC-supervised on-ramp for traditional financial institutions to participate in the crypto economy. AngelList has supported investments into companies that have grown from fledgling startups to economic powerhouses reshaping their industries around the globe, from Robinhood to Uber. Additionally, both companies have partnered with Layer2 Financial, a Toronto-based Crypto Banking as a Service platform, to provide crypto-specific account subledgering and onboarding services.
By allowing seamless USDC investment into startups, AngelList and Anchorage are bridging the gap between fiat currency and VC funding. This allows those interested in funding crypto innovation to deposit USDC easily. The fully automated, platform-wide rollout will allow all businesses–not just those that are crypto-native–to accept USDC as a funding option. In the fast-moving and hypercompetitive world of VC and tech startups, the efficiency created by blockchain-based transactions is likely to come as a welcome upgrade for forward-looking founders and funders alike.
“This partnership paves the way for a more effective, efficient, and transparent system of funding the world’s most promising new businesses — and there’s no better trailblazer than AngelList to take this giant leap forward for the industry.”
— Diogo Mónica, President and Co-Founder, Anchorage Digital
“Anchorage and Layer2 infrastructure accelerated our implementation efforts to launch USDC alongside fiat as an investment option on the AngelList platform. We look forward to expanding the partnership across other use cases on the platform.”
— Avlok Kohli, CEO, AngelList
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.
If you’re interested in learning more about our services, please get in touch.
Holdings of cryptocurrencies and other digital assets are speculative and involve a substantial degree of risk, including the risk of complete loss. There can be no assurance that any cryptocurrency, token, coin, or other crypto asset will be viable, liquid, or solvent. No Anchorage communication is intended to imply that any digital asset services are low-risk or risk-free.
Custody, settlement, staking, and governance services are offered through Anchorage Digital Bank National Association (“Anchorage Digital Bank”). Digital asset trading services are provided by Anchorage Hold LLC (“Anchorage Hold”). Borrowing and lending services are offered through Anchorage Lending CA LLC, a finance lender licensed by the California Department of Financial Protection and Innovation, License №60 DBO-11976 (“Anchorage Lending”). Any depictions of simulated or past loan performance are not necessarily indicative of future results.
