AnchorUSD

AnchorUSD, operated by the San Francisco-based parent company Anchor Labs Inc., was a fintech platform providing an all-in-one mobile app for investing. It allowed users to buy, sell, and hold various assets, including cryptocurrencies, U.S. stocks, and precious metals. The company's key offering was its "Interest by AnchorUSD" product, which promised high annual yields on both crypto and cash balances. The platform's mission was to simplify finance and investing by leveraging blockchain technology. However, the company ceased operations following a 2021 enforcement action and settlement with the U.S. Securities and Exchange Commission (SEC) concerning misleading statements about its interest-bearing product.