Odaily Planet Daily reports: Cari, a digital currency network built on an Ethereum-based, permissioned Layer 2 blockchain, has announced the completion of its $32.5 million seed round, with all funding coming from banking institutions. Investors include First Horizon Bank, Huntington Bank, KeyBank, M&T Bank, Old National Bank, SouthState Bank, and Glacier Bank. The new capital will be used to accelerate bank onboarding and integration, and to expand use cases for tokenized deposits and programmable money.
Digital Currency Network Cari Completes $32.5M Seed Round with Bank Participation
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Summary
Cari, a digital currency network built on an Ethereum-anchored permissioned Layer 2 blockchain, has raised a $32.5 million seed round. The funding came entirely from banking institutions, including First Horizon Bank, Huntington Bank, KeyBank, M&T Bank, Old National Bank, SouthState Bank, and Glacier Bank. The network upgrade will enable faster bank onboarding and integration, as well as expanded use of tokenized deposits and programmable money. This digital asset development represents a significant step in advancing blockchain-based financial services.
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