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  • Anchorage is an institutional-grade crypto custody service provider.
  • Visa participates in second known funding for a cryptocurrency-based startup.

The world’s leading payments company Visa has made its second investment in a cryptocurrency startup called Anchorage. Visa was among the firms that raised up to $40 million this second round funding. Anchorage an institutional-grade crypto custody service first round of funding raised $17 million.

The amount contributed by Visa has not been disclosed, neither  has the valuation of Anchorage in this current round of funding. Visa and Anchorage are among the founding partners of Facebook Inc.’s soon to launch crypto Libra.

This round of investment is Visa’s second known investment in a crypto related business. Visa was part of the $30 million raised in support of Chain a blockchain startup in 2015. Other firms that investment in Chain are Nasdaq and Citi. Chain was later purchased by a Stellar-focused company Lightyear.

Anchorage intends to use the funds in the second round to provide an alternative to cold-storage-based institutional grade custody services to guarantee security for its customer’s assets.