The crypto custodial service Anchorage completed the latest financing round, managing to raise $40 million from a group of companies, including Visa and Blockchain Capital.

Visa and the Andreessen Horowitz venture fund took part in a $40 million round of financing of Anchorage, a crypto custodial service, which intends to create a crypto vault where users do not have to use passwords. Instead of passwords, the service will use the owner’s biometric data and an artificial intelligence-based protection system, as well as other transaction verification methods. Anchorage also provides comprehensive insurance coverage for cryptocurrency deposited.

The Series B, which brought $40 million to Anchorage, was led by the Blockchain Capital fund and joined by Visa and Andreessen Horowitz. Six months ago, Anchorage raised $17 million during Series A.

“As a custodian, our work is focused on building financial plumbing that other companies depend on for their operations to run smoothly. In this regard we have always looked at Visa as a model. Visa was ‘fintech’ before the term existed, and has always been on the vanguard of financial infrastructure. Visa’s investment in Anchorage is helpful not only to our company but to our industry, as a validation of the entire ecosystem and a recognition that crypto will play a key role in the future of global finance,” said Anchorage co-founder and president Diogo Mónica.

Anchorage, like Visa and Andreessen Horowitz, is a member of the Libra Association, whose members are involved in creating Facebook stablecoin Libra. Currently, 28 companies form the association.

“Libra is exactly the kind of asset that Anchorage was created to hold,” Mónica wrote in company’s blog on 18 June, when Facebook officially announced plans to launch stablecoin in 2020.