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The elder statesman of trust charters makes its move

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The elder statesman of trust charters makes its move

Anchorage Digital has acquired Routable, in a deal to link the issuance, custody and settlement of stablecoins with multi-denominational payout distribution.

Anchorage Digital has acquired the payout platform Routable, the digital bank announced Tuesday. Terms of the deal were not disclosed.

The transaction would let Anchorage provide the infrastructure for stablecoin issuance, custody and settlement while Routable would focus on payout distribution – the layer that connects a client’s enterprise resource planning to the rails that move money in many major denominations.

Routable, which touts OpenAI CEO Sam Altman as an early backer, helps businesses onboard and verify payees, automate tax and compliance workflows and orchestrate high-volume payouts through what it dubs a “developer-first” application programming interface.

In its announcement Tuesday, Anchorage emphasized that it has long anticipated the digital-asset market would grow beyond cryptocurrency to tech platforms with payout, treasury, and disbursement needs.

“We spent nearly a decade earning the trust of crypto natives and the world's largest financial institutions, and knew Big Tech and Fortune 500 companies would follow,” Anchorage Digital CEO Nathan McCauley said in a statement. “These entities move billions every day, and until now, few regulated partners could provide a seamless offering across both fiat and digital assets. With Routable, Anchorage Digital has become that partner.”

While a national trust banking charter has become a well-worn aspiration for dozens of burgeoning fintechs, Anchorage Digital could be considered an elder statesman in that journey: It gained approval for a trust charter from the Office of the Comptroller of the Currency in 2021 , and has weathered a three-year consent order to get its anti-money laundering program on the right side of the regulator.


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