#CryptoBankAugustusRaises180M

Augustus Raises $180 Million to Build Banking Infrastructure for the Stablecoin Era The stablecoin economy is rapidly outgrowing the use cases surrounding the issuing of tokenized assets, and investors are pouring money into stablecoin infrastructure firms as well. Augusto, a company that provides this kind of banking infrastructure, today raised $180 million in a Series B at a $1 billion valuation and announced it has received a conditional national bank charter from the Office of the Comptroller of Currency (OCC). Rather than mint its own stablecoin, Augusto provides clearing and settlement to the stablecoin industry in a push to facilitate and automate payments between the stablecoin world and the traditional banking world.

The funding comes from a slate of recognizable institutional investors, including Tiger Global and Thomas Bravo, and venture capitalists including 22X and the founder of DoorDash.

Augustus is a regulated, bank-chartered stablecoin infrastructure platform for banks and other regulated businesses to offer digital asset solutions. For now, the banking giant said that its OCC-chartered entity would serve its banking customers with digital asset services, while Augusto continues to offer its payment services and will have future product plans to be launched at the beginning of the year 2023.

‍#Stablecoins #GateSquare