Digital Asset Bank Custodia Raises $7 Million

According to a filing with the Securities and Exchange Commission, state-chartered digital asset bank Custodia has raised $7 million.

Caitlin Long, a Wall Street veteran launched the company in 2020. Custodia, formerly known as Avanti, received a $37 million Series A financing in March of last year. Binance.US, Coinbase Ventures, and Lemniscap are among its supporters.

According to the filing, the initial sale for this equity round occurred in early October, and the business has a total of 36 investors. The startup’s total investment has now reached $51 million.

Custodia’s Series A round of funding was leveraged to provide the capital required by regulators to open the bank.

According to a February statement, the bank planned to open in the second quarter of this year and provide US-dollar deposit accounts to corporate customers. However, the bank is not yet open for business.

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