According to Business Wire, Cari, a bank-led digital currency network, announced the completion of the first phase of its initial external financing round, raising $32.5 million from exclusively banking institutions. Investors include Cari’s six design partner banks—First Horizon Bank, Huntington Bank, KeyBank, M&T Bank, Old National Bank, and SouthState Bank—as well as other banking institutions such as Glacier Bank. Keefe, Bruyette & Woods (a Stifel company) served as the financial advisor for this transaction.
Digital Currency Network Cari Completes $32.5M Series A Round Led by Banks
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Summary
Digital asset news broke Tuesday as Cari, a digital currency network, secured $32.5 million in a Series A round led by banks. The round includes six design partner banks—First Horizon Bank, Huntington Bank, KeyBank, M&T Bank, Old National Bank, and SouthState Bank—plus Glacier Bank. Keefe, Bruyette & Woods advised on the deal. The funding will support a network upgrade and ongoing development.
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