Anchorage Digital has acquired the payout platform Routable, the digital bank announced Tuesday. Terms of the deal were not disclosed.
The transaction would let Anchorage provide the infrastructure for stablecoin issuance, custody and settlement while Routable would focus on payout distribution – the layer that connects a client’s enterprise resource planning to the rails that move money in many major denominations.
Routable, which touts OpenAI CEO Sam Altman as an early backer, helps businesses onboard and verify payees, automate tax and compliance workflows and orchestrate high-volume payouts through what it dubs a “developer-first” application programming interface.
In its announcement Tuesday, Anchorage emphasized that it has long anticipated the digital-asset market would grow beyond cryptocurrency to tech platforms with payout, treasury, and disbursement needs.
“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,” Anchorage Digital CEO Nathan McCauley said in a statement. “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.”
While a national trust banking charter has become a well-worn aspiration for dozens of burgeoning fintechs, Anchorage Digital could be considered an elder statesman in that journey: It gained approval for a trust charter from the Office of the Comptroller of the Currency in 2021, and has weathered a three-year consent order to get its anti-money laundering program on the right side of the regulator.
Routable, meanwhile, is trumpeting growth of 100% or more over the past two years.
“We spent years building the plumbing that lets the world's fastest-growing companies pay anyone, anywhere,” Omri Mor, Routable’s CEO and co-founder, said in a statement. “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.”
With the combination, Routable becomes branded as “Routable by Anchorage Digital” and native stablecoin and tokenized deposit settlement becomes embedded into Routable’s offerings, to forge what the company calls an “asset-agnostic payment orchestration platform.”
“The companies we serve don't think in terms of digital assets versus fiat, they think in terms of payouts that arrive,” Routable co-founder Tom Harel said Tuesday. “This acquisition means they never have to choose.”
The deal also may lend some credence to a philosophy McCauley has long espoused – namely, that stablecoins are taking root.
“While they may have started as a bridge between crypto and fiat, stablecoins are now becoming core plumbing in the digital financial system,” McCauley told Banking Dive in a 2025 interview.
Anchorage and Routable are planning integrated offerings to roll out over the coming quarters, they said.
