Anchorage Digital acquires Routable for stablecoin payout infrastructure

Anchorage Digital announced its acquisition of Routable on Tuesday. The deal, for which financial terms were not disclosed, will see the payout platform rebranded as 'Routable by Anchorage Digital'.

Strategic rationale

Anchorage Digital aims to leverage Routable’s enterprise payout platform to offer regulated fiat and digital asset settlement. The firm provides infrastructure for stablecoin issuance, custody, and settlement. It anticipated the digital-asset market would grow beyond cryptocurrency to tech platforms with payout, treasury, and disbursement needs.

Nathan McCauley, Anchorage Digital's CEO, said Big Tech and Fortune 500 companies would follow crypto adoption. These entities move billions every day. McCauley stated few regulated partners could offer seamless fiat and digital asset solutions before this combination. Omri Mor, Routable's CEO, said joining Anchorage Digital gives clients the same rails plus a regulated bridge into digital assets.

Routable’s capabilities

Routable focuses on payout distribution, connecting enterprise resource planning to money movement rails. It helps businesses onboard and verify payees. The platform automates tax and compliance workflows. It orchestrates high-volume payouts via a 'developer-first' API and has touted growth of 100% or more over the past two years.

Omri Mor stated, "We spent years building the plumbing that lets the world’s fastest-growing companies pay anyone, anywhere." Co-founder Tom Harel said the companies they serve think for payouts that arrive, not digital assets versus fiat. The result is an asset-agnostic payment orchestration platform.

Combined offering

The integrated platform enables asset-agnostic payment orchestration. Native stablecoin and tokenized deposit settlement is embedded into Routable’s existing rails. Tom Harel said the acquisition means clients never have to choose between asset types. Nathan McCauley told Banking Dive in a 2025 interview that stablecoins are now becoming core plumbing in the digital financial system.

Routable touts OpenAI CEO Sam Altman as an early backer. Anchorage and Routable are planning integrated offerings to roll out over the coming quarters.

Anchorage’s regulatory standing

Anchorage Digital brings its regulatory standing to the combination. The firm gained approval for a trust charter from the Office of the Comptroller of the Currency in 2021. It weathered a three-year consent order to get its anti-money laundering program compliant. CEO Nathan McCauley stated they spent nearly a decade earning the trust of crypto natives and the largest financial institutions.

Integrated offerings from Anchorage and Routable are planned to roll out over the coming quarters.