Anchorage jumps into full token lifecycle management with acquisition of cap table management and TGE tech

Anchorage Digital has announced its second acquisition this week with the purchase of Hedgey, a startup that builds solutions for token cap table management. Terms of the deal, like the acquisition of Securitize’s wealth management unit on Monday, were not disclosed.

Hedgey offers a platform that manages token allocations, distributions, and vesting schedules, facilitating token generation events (TGEs) and post-launch token tracking.

“Founders should be focused on growing their product, community, and adoption — not operational risk,” Anchorage CEO Nathan McCauley said in a statement. “When you’re dealing with token economics, especially with institutional investors, the infrastructure you choose defines your credibility.”

Anchorage, the first crypto company to receive a federal banking license from the Office of the Comptroller of the Currency, has been expanding its business operations as more crypto firms enter the crypto-banking space. For instance, the firm has become increasingly active in the stablecoin sector and is also looking to build out its wealth management team.

By integrating Hedgey and hiring the startup’s experienced team, Anchorage is looking to reduce “friction and errors” common in token cap table management, McCauley added. The move will expand Anchorage’s role in token lifecycle management, essentially helping to create the assets it will then build custody and investment services around.

On X, the company noted its newly acquired platform can help startups secure their “entire cap table,” facilitate “white-glove onboarding,” and “manage vesting and distribution “with granular controls for grant types and tax elections.”

“Beyond token management and distributions, we can help you think about building support for custody and staking for your asset, distribution, market-making strategy, and comprehensive treasury management for both cash and crypto,” Anchorage said.

Last week, the OCC, one of the top U.S. banking authorities, granted conditional approvals to five crypto firms — Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos — to become trust banks. These firms are likely looking to become limited-purpose banks to provide stablecoin services under the GENIUS Act, which President Donald Trump signed into law this summer.