Founded in 2017, Routable helps businesses onboard payees, automate compliance, and orchestrate high-volume payouts globally, Anchorage said in a news release Tuesday (Oct. 6).
“Behind every streaming platform paying millions of artists, every marketplace paying millions of sellers, and every app store paying millions of developers sits the same hard problem: the money has to arrive in 220 countries, in the right currency, on time, every time,” Anchorage said.
“And the infrastructure that does it has to sit quietly between a company’s ERP and the world’s payment rails without ever becoming the story. This is the work that Routable does at scale.”
The release noted that Anchorage’s initial customers were crypto-native companies, followed by traditional financial institutions entering the digital asset space. Next came technology platforms and Fortune 500 companies with some of the largest payout, treasury, and disbursement needs in the world.
Serving businesses like these “requires the last mile of fiat,” a capability Anchorage now offers through Routable, the release added.
“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 co-founder and CEO.
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“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.”
PYMNTS CEO Karen Webster spoke with McCauley earlier this year for an episode of the “From the Block” podcast.
The conversation explored Anchorage’s role as the regulated issuer behind Tether’s U.S. stablecoin, along with Ethena’s and Western Union’s. The company also serves as the custody rail behind BlackRock’s BUIDL.
None of those institutions wanted to become a crypto bank, but a regulated counterparty that already was one, that report said.
“Whether that’s around stablecoins, whether that’s custody and trading as a back end, whether that’s building their business on top of ours,” McCauley said, “we are here to be the enabling infrastructure bank for the industry.”
The pitch has transformed from “we are the only one who can do this” to “you shouldn’t have to do this yourself.”
“That says McCauley believes the constraint on cryptocurrency banking is no longer regulatory access — it is operational complexity, and the 3,999 banks that will never want to build it themselves,” the report added.
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