Anchorage Digital said on Tuesday, October 6, 2026, that it has acquired Routable, a payouts platform that helps commercial and enterprise businesses onboard payees, automate compliance, and send high-volume payouts worldwide through a developer-first API. Anchorage owns Anchorage Digital Bank N.A., which it describes as the first federally chartered crypto bank in the US. Routable becomes a subsidiary, renamed “Routable by Anchorage Digital,” and Anchorage plans to embed native stablecoin and tokenized deposit settlement into its offering. Terms were not disclosed, Banking Dive reported.
Founded in 2017, Routable counts Sam and Jack Altman, Max Mullen, and Joe Gebbia among its backers. It has grown more than 100% for two consecutive years, according to the announcement, and serves enterprise clients such as Veho, Ethos, and Polestar. The platform pays creators, contractors, sellers, drivers, affiliates, and other recipients in more than 220 countries, in fiat or stablecoins, with built-in handling of the US tax forms W-9, W-8, and 1099.
A crypto bank reaches for the last mile of fiat
Anchorage presents the deal as the next step in a bet it made at its founding in 2017: that institutional adoption of digital assets would arrive in stages. Crypto-native firms came first, then banks, asset managers, and payment networks entering digital assets. The next customers, it says, are technology platforms and Fortune 500 companies “whose core business is not crypto at all, but whose payout, treasury, and disbursement needs are among the largest in the world.” Serving them “requires the last mile of fiat,” the release says. Routable sits between a company’s ERP and the rails that move money in every major market.
“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,” said Nathan McCauley, Anchorage Digital’s CEO and co-founder. “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.”
Integrated offerings will roll out over the coming quarters
The combined company serves clients of both businesses from day one, and integrated offerings will roll out “over the coming quarters,” with no dates given. Anchorage describes Routable as “a complementary, fiat-native business” with “revenue built on payment volume.” Routable’s own description says it already supports both fiat and stablecoin payouts. The deal is meant to add native stablecoin and tokenized deposit settlement, backed by Anchorage’s federally chartered custody and settlement infrastructure.
“Joining Anchorage Digital means our clients get the same rails they rely on today, plus a regulated bridge into digital assets the moment they want it,” said Omri Mor, Routable’s CEO and co-founder. Co-founder Tom Harel said the deal means Routable’s clients “never have to choose” between digital assets and fiat. Law firm Lowenstein Sandler advised Anchorage on the acquisition.
A national trust bank that issues other companies’ stablecoins
Anchorage became the first crypto company to receive a national trust charter from the Office of the Comptroller of the Currency, in 2021, Cointelegraph notes. Banking Dive adds that it has come through a three-year consent order over its anti-money laundering program. Its bank issues USA₮, Tether’s US-focused, dollar-backed stablecoin. PYMNTS also names it as the regulated issuer behind Ethena’s and Western Union’s stablecoins, and as the custody rail behind BlackRock’s BUIDL.
Routable’s version of the announcement values Anchorage at $4.2 billion, the level set by Tether’s $100 million strategic investment on February 5, 2026. Anchorage’s own release cites a Series D valuation of more than $3 billion. Anchorage’s investors include Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa . The acquisition came four days after The Information reported, citing people familiar with the matter, that Anchorage had cut 17% of its workforce. Anchorage did not immediately respond to Cointelegraph’s request for confirmation.