According to BusinessWire, Cari, a bank-led digital currency network, has announced raising $32.5 million in its first external funding round, with all capital coming from banking institutions including First Horizon Bank, Huntington Bank, KeyBank, M&T Bank, Old National Bank, SouthState Bank, and Glacier Bank, among others. Built on an Ethereum-anchored permissioned Layer 2 blockchain, Cari aims to help banks bring funds on-chain through shared infrastructure, enabling programmable financial services. The new funds will be used to accelerate bank onboarding and integration, and expand use cases for tokenized deposits and programmable money.
Cari Completes $32.5M Series A Round Led by Major Banks
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Summary
Cari, a bank-led digital currency network, has raised $32.5 million in a Series A round led by major banks including First Horizon, Huntington, KeyBank, M&T, Old National, SouthState, and Glacier Bank. The Ethereum-anchored permissioned Layer 2 blockchain enables banks to tokenize funds and deliver programmable financial services. The network upgrade will accelerate the onboarding and expansion of tokenized deposits. This Ethereum development represents a key milestone in the platform’s growth strategy.
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