Caitlin Long's Digital Asset Bank Custodia Raises $7 Million

Nov 01,2022
KingData News: State-chartered digital asset bank Custodia, formerly known as Avanti, has raised $7 million, according to a filing submitted to the Securities and Exchange Commission. The date of the first sale for this equity round took place in early October and the firm has a total of 36 investors, according to the filing. The bank aimed to launch in the second quarter of this year where it would provide U.S.-dollar deposit accounts for business customers, according to a February release. However, the bank isn’t yet in operation. Investors: The investors of this round of financing have not been disclosed yet. Project Info: Custodia is designed to provide real-time settlement finality for U.S.-dollar payments in digital asset transactions, according to the company website. The startup, which was founded in 2020 by Wall Street veteran Caitlin Long, raised a $37 million Series A round in March of last year. Its backers include Binance.US, Coinbase Ventures and Lemniscap. The startup’s total funding now amounts to $51 million.
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