The Office of the Comptroller of the Currency's conditional approval letter of 13 January 2021 is addressed to "Nathan McCauley, President & Director, Anchorage Trust Company, 4901 S. Isabel Place, Sioux Falls, SD". That letter approved the conversion of the South Dakota chartered trust company into Anchorage Digital Bank, National Association.
He writes publicly for the company under the title "Co-Founder and CEO, Anchorage Digital". A post published under his byline on 21 August 2025 marked the OCC's termination of the consent order the same regulator had issued against the bank in April 2022, and set out the company's position that federal supervision and digital asset custody can work together.
Anchorage Digital gives 2017 as its founding year and San Francisco as the city it was founded in. Its banking subsidiary remains a subsidiary of Anchor Labs, Inc., a Delaware corporation.