Anchorage Digital, the crypto company that holds a national trust bank charter in the US, announced on October 6, 2026 that it had acquired Routable, a San Francisco platform that companies use to onboard payees and send large volumes of payouts.
The companies did not disclose the price or other terms. Routable will keep running under the name Routable by Anchorage Digital, and its co-founders, chief executive Omri Mor and Tom Harel, were quoted in the announcement.
Anchorage plans to build native stablecoin and tokenized-deposit settlement into Routable's product. Those features are not live yet: the companies said integrated offerings would roll out over the coming quarters.
What Routable built
Routable sells a developer-focused API and dashboard for the accounts-payable side of a business. It verifies and onboards payees, automates tax and compliance paperwork, and schedules, routes and reconciles high-volume payouts to drivers, suppliers and partners. It sits between a customer's ERP system and the payment rails for major currencies.
The company says it has grown more than 100% in each of the past two years. Crypto Briefing named delivery company Veho, insurer Ethos and electric carmaker Polestar among its customers; earlier coverage listed Snackpass, Ticketmaster and Re/Max.
Mor and Harel started Routable in 2017 after seeing their previous employers spend large amounts of engineering time on internal tools for paying sellers, drivers and restaurants. The company went through Y Combinator's Summer 2017 batch and later moved its operations from Seattle to San Francisco.
“The companies we serve don't think in terms of digital assets versus fiat, they think in terms of payouts that arrive”
Why Anchorage is buying
Anchorage was the first crypto company to receive a national trust bank charter from the Office of the Comptroller of the Currency, in 2021. It has since become the regulated issuer behind stablecoins for Tether's US product, Ethena and Western Union, and it provides custody for BlackRock's BUIDL fund, according to PYMNTS.
Its customers so far have been crypto-native firms and traditional financial institutions moving into digital assets. With Routable, Anchorage wants to sell to technology platforms and large corporates that have big payout, treasury and disbursement needs. The plan is for Anchorage to handle stablecoin issuance, custody and settlement, while Routable handles distribution to the people being paid.
Co-founder and chief executive Nathan McCauley said Anchorage had spent nearly a decade earning the trust of crypto firms and large financial institutions, and that Routable makes it the partner those larger companies need. Harel put it from the customer's side: finance teams care that payouts arrive, not whether they move as digital assets or fiat.
In an earlier conversation with PYMNTS, McCauley argued that the main obstacle for companies wanting to use stablecoins is now operational complexity rather than regulatory access, and described Anchorage's role as infrastructure for the thousands of banks and businesses that do not want to build crypto rails themselves. Buying a payouts front end that corporate finance teams already log into fits that argument.
In February 2026 Tether invested $100 million in Anchorage at a $4.2 billion valuation, Crypto Briefing reported. Banking Dive noted that Anchorage previously operated under a consent order requiring it to fix its anti-money-laundering programme.
The founders and the funding
Routable raised a $12 million Series A in August 2020 with participation from Founders Co-op, Y Combinator, BoxGroup and Liquid 2 Ventures. In April 2021 it raised a $30 million Series B led by Sam Altman and his brother Jack Altman, then chief executive of Lattice, with Flexport and angels including Airbnb co-founder Joe Gebbia, Aaron Levie, Marc Benioff and Max Mullen.
That round took Routable's total funding to $46 million. No later round has been publicly reported.
What happens to customers
For now, existing customers keep the same fiat payout product under the new name. The companies' pitch is that a corporate treasurer will eventually be able to issue and distribute payments on one platform, settling in dollars, euros, stablecoins or tokenized deposits.
Lowenstein Sandler advised Anchorage on the deal. Neither company said when the transaction closed or whether Routable's staff numbers will change.
