Visa Invests $40M in Crypto Custody
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10 July
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American multinational financial services corporation Visa has invested $40 million in a Series funding round led by Blockchain Ventures and joined by Visa and Andreessen Horowitz in cryptocurrency custody service called Anchorage, Finextra reports.

Anchorage has been offering its services since 2017 for all institutional investors, helping them to keep their digital assets safe.

According to Finextra, Anchorage plans to use the latest funding to add support for new assets, and new features such as participating in on-chain governance and to look into unlocking services beyond custody

The Managing Partner of Blockchain Capital, Bart Stephens claims a growing number of crypto networks "will depend on asset holders’ active participation in staking and governance."

"Anchorage’s next generation custody solution is ideally positioned to help investors keep up with the future direction of crypto networks."We are leading this investment because we believe Anchorage will have a transformative impact on the financial world," he added.

Last year, the Head of Visa All Kelly said that cryptocurrencies certainly aren’t a challenge to Visa “in the short to medium term.”

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