Anchorage Digital, A US-based premier digital asset platform for institutions, has raised $350m in a Series D funding round led by investment firm KKR.

The funding round, which takes the firm’s valuation to over $3bn, was also joined by investors including Goldman Sachs, PayPal Ventures, Andreessen Horowitz, Thoma Bravo, and Wellington Management.

Anchorage enables institutions to participate in the growing digital asset space. In addition to services, the firm provides services, including financing, secure trading, staking, and governance.

It is claimed to be the first crypto-native company to receive a banking charter from the Office of the Comptroller (OCC).

The capital infusion will enable Anchorage to augment its infrastructure solutions for financial firms and fintech innovators.

The firm also plans to leverage the fresh capital to grow its team in order to expand its product offerings and enlarge its client base.

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Anchorage Digital president and co-founder Diogo Mónica said: “As more and more institutions look to add crypto services into their offerings, we find ourselves at an inflection point.

“This funding positions Anchorage Digital to meet the unprecedented institutional demand for this rapidly evolving market. We’re grateful that KKR and this wider group of investors shares our vision to expand regulated institutional access to digital assets.”

KKR is investing in Anchorage through its Next Generation Technology Growth Fund II, which invests in the technology space. This said to be the fund’s first direct equity investment in a digital asset company.

Commenting on the development, KKR Technology Growth Equity team senior leader Ben Pederson said: “We are thrilled to lead this Series D round and work with Diogo, Nathan and their talented team as they continue to support the institutional adoption of digital assets through their differentiated, regulated and integrated suite of solutions.”

Earlier this year, Anchorage raked in $80m through a Series C round led by GIC and joined by Andreessen Horowitz, Blockchain Capital, Lux Capital, and Indico.