Anchorage expands token lifecycle management infrastructure…broadens business front with Hedgey acquisition

U.S. crypto bank Anchorage Digital has begun building comprehensive infrastructure that spans from token issuance to post-issuance management. It is expanding from a custody-centered focus to a full-cycle token management business by acquiring a startup that holds token cap table and distribution management technology.

On the 16th (local time), The Block reported that Anchorage Digital acquired Hedgey, a company that develops token cap table management solutions. The acquisition price was not disclosed. Anchorage is accelerating its business expansion by pursuing consecutive acquisitions, following its purchase earlier this week of the asset management division of Securitize.

Hedgey operates a platform that supports token allocations and distributions and manages vesting schedules, and it provides technology that automates token generation events (TGE) and post-launch token tracking. Through the Hedgey acquisition, Anchorage plans to reduce operational risks that arise during token economic design and management and to strengthen its capabilities in dealing with institutional investors.

Nathan McCauley, Anchorage's chief executive officer (CEO), said, "Founders should focus on product, community, and expanding adoption, not operational risk," and added, "When dealing with token economies, especially with institutional investors, the choice of infrastructure determines credibility." He added that he would integrate Hedgey's technology and personnel to reduce frictions and errors that occur during token management processes.

Anchorage's strategy is to support token creation and distribution through the Hedgey acquisition and then connect that foundation to custody and investment services. The company said it can comprehensively support not only token management but also custody and staking support, distribution and market-making strategies, and financial management covering cash and crypto assets.

This move coincides with intensifying competition among U.S. crypto banks. Anchorage was the first crypto firm to receive a federal bank charter from the U.S. Office of the Comptroller of the Currency (OCC), and it is expanding its business in stablecoins and asset management. Recently, Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos have been conditionally approved for limited-purpose trust bank charters.

Market observers view these moves as reflecting the competitive landscape among firms seeking to offer stablecoin services under the GENIUS Act signed by the President. Anchorage is also interpreted as pursuing a strategy to strengthen its position in regulated crypto finance by acquiring companies to capture token infrastructure broadly.