Anchorage Digital acquires Routable to bring stablecoins into corporate payments

Anchorage Digital, a federally chartered US crypto bank valued at $4.2 billion, has acquired payment orchestration startup Routable to integrate stablecoins and tokenized deposits into corporate payout systems. Routable, which automates vendor and contractor payments for clients like Polestar and Veho, will operate as Routable by Anchorage Digital. While the deal provides a direct channel to corporate finance teams, the future adoption of digital settlement by traditional fiat-focused clients remains an open question.

Integration of digital settlement features

• ▪The success of the acquisition of Routable by Anchorage Digital depends on whether existing Routable clients, who signed up for fiat payouts, will opt into digital settlement
• ▪The acquisition of Routable is intended to give Anchorage Digital a way to integrate stablecoins into the payment systems that large companies already use
• ▪Anchorage Digital plans to introduce tokenized deposit settlement on the Routable platform over the coming quarters
• ▪The integration of stablecoin and tokenized deposit settlement features on Routable by Anchorage Digital is planned for future quarters and is not available immediately

Background on Routable

• ▪Routable's investors include OpenAI chief Sam Altman and Airbnb co-founder Joe Gebbia
• ▪Routable, founded in 2017, helps businesses automate and orchestrate payouts to vendors, contractors, and other partners
• ▪Routable posted over 100% growth in each of the last two years and serves clients including Veho, Ethos, and Polestar

Background on Anchorage Digital

• ▪In February 2026, Tether invested $100 million in Anchorage Digital, lifting the bank's valuation to $4.2 billion
• ▪Anchorage Digital is a federally chartered crypto bank in the United States and holds licenses in Singapore and New York

Debatable claims

• ▪Tokenized deposits are a safer alternative to stablecoins for corporate payments
• ▪Customer demand is the primary barrier to corporate stablecoin adoption
• ▪Integrating stablecoins into existing fiat systems is the most effective way to drive crypto adoption
• ▪Stablecoins are a viable alternative to fiat for mainstream corporate payouts