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Avanti Financial Raised $37 Million to Create an Institutional Crypto Bank

Avanti Financial Raised $37 Million to Create an Institutional Crypto Bank
  • Avanti Financial, an upcoming digital asset bank, raised $37 million
  • The funds will be used as capital and to fund developments and operations
  • Investors include Coinbase Ventures and Binance.US

In a recent press release, Avanti Financial, an upcoming digital asset bank announced that they managed to raise $37 million in Series A financing. The start-up has amassed a total of $44 million since its inception.

According to the announcement, investors include big institutions like Binance.US and Coinbase Ventures. They also have Morgan Creek Digital, Madison Paige Ventures, AP Capital, and Susquehanna Private Equity Investments as their investors.

Trace Mayer, the person responsible for forming the consortium that led Avanti’s Series A expressed his positive outlook. Mayer said,

Avanti is extremely well-positioned to competently answer questions that most in the industry have not even thought about yet.”

Founder and CEO Caitlyn Long also thanked the investors. Long said, “we thank our investors for helping Avanti build a new breed of bank that services Bitcoin and also offers meaningful API capabilities for U.S. dollar transactions to tech-savvy customers.”

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Joseph Joestar is a CoinQuora contributor. He works in various blockchain marketing content projects, specializing in written content such as technical whitepapers, press releases, and articles.