Financial blockchain startup Alta completes US$47.5 million in Series A financing and will cooperate with Airwallex to expand payment business
Alta, a start-up that develops blockchain infrastructure for banks and payment institutions, completed a US$47.5 million Series A round of financing, led by Index Ventures, with participation from GV, Blackbird Ventures, Square Peg and Capital 49, bringing the total financing amount to US$80 million. Alta is developing blockchain with built-in privacy protection and compliance controls to meet the business needs of financial institutions. Payment company Airwallex has become an early partner, and the two parties plan to integrate the Alta blockchain into Airwallex's global payment network to support stablecoin transfers and local legal currency payments. Alta's first product will reduce the amount of funds companies occupy in pre-funded accounts through an instant fund allocation mechanism, and support the allocation of idle funds into tokenized assets that can generate income. This round of financing will be used for blockchain development, expanding cooperation with financial institutions and recruiting engineering and compliance personnel. The company did not disclose the valuation. (The Block)
Financial blockchain startup Alta completes US$47.5 million in Series A financing and will cooperate with Airwallex to expand payment business
Alta, a start-up that develops blockchain infrastructure for banks and payment institutions, completed a US$47.5 million Series A round of financing, led by Index Ventures, with participation from GV, Blackbird Ventures, Square Peg and Capital 49, bringing the total financing amount to US$80 million. Alta is developing blockchain with built-in privacy protection and compliance controls to meet the business needs of financial institutions. Payment company Airwallex has become an early partner, and the two parties plan to integrate the Alta blockchain into Airwallex's global payment network to support stablecoin transfers and local legal currency payments. Alta's first product will reduce the amount of funds companies occupy in pre-funded accounts through an instant fund allocation mechanism, and support the allocation of idle funds into tokenized assets that can generate income. This round of financing will be used for blockchain development, expanding cooperation with financial institutions and recruiting engineering and compliance personnel. The company did not disclose the valuation. (The Block)
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