Andreessen Horowitz and PayPal Co-Founder Backed Cryptocurrency Custodian Launches

Anchorage for institutional investors was created after $ 17 million in the Andreessen Horowitz risk capital fund, was announced on Wednesday (January 23rd).

According to the announcement, co-founder of PayPal, SciFi VC, co-founder Max Levchina, capital investment firm Khosla Ventures, Mark McCombe from investment company Blackrock and others, also participated in the series. financing A

Investors say they intend to create a safer repository for better institutional investment and at the same time enable active participation in the chain.

The anchor claims to be based on the principles of easy access to property, voting, evidence of the existence and speed of transactions. Anchorage believes that large investments in digital assets, such as investing institutional players, will bring new growth to space blocked.

As Cointelegraph has already pointed out, Andreessen Horowitz actively invests in cryptographic startups. In November, the California Fund participated in fundraising $ 15 million for Dapper Labs, which developed the most widely used blockchain application in the world, CryptoKitties.

Andreessen Horowitz also participated in E Series shareholder circles of the US portfolio and holding Crypto, which plans to use the $ 300 million raised to "accelerate" the adoption of the cryptocurrency.

Some specialists for the fintech and crypto spheres predicted an increased interest of institutional investors for the cryptographic space this year. Henri Arslanian, Hong Kong's PricewaterhouseCoopers leader for fintech and crypto technology in Asia, said that thinking "The crypto ecosystem expects many exciting things in 2019," explained Arslanian. Next year will be different from 2018 due to increased regulatory clarity.

By contrast, anonymous sources earlier this month told Bloomberg that cryptographic plans at Wall Street were mostly on hold since the value of cryptocurrencies continued to fall into the new year. According to sources close to the cryptographic industry of Goldman Sachs, they were too late to notice them, and the non-derivative crypto fund companies have so far attracted only 20 clients.


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