Summary
- Tether Investments said it participated in Pave Bank's Series A investment round.
- Pave Bank said it is developing an enterprise platform that can manage fiat currency and digital assets simultaneously.
- It said the funds will be used for regulatory network expansion, accelerating product development, building institutional-grade infrastructure, among other things.
Tether has participated in the Series A investment round of Pave Bank, which proclaims itself as a 'programmable bank' for the AI and digital asset era.
According to The Block on the 23rd (local time), Pave Bank secured a Series A investment of $39 million. The round was led by Accel and included Tether Investments, Wintermute, Quona Capital, Helios Digital Ventures, among others.
Pave Bank is a commercial bank licensed by the Georgian financial regulator and is developing an enterprise platform capable of managing fiat currency and digital assets simultaneously.
Pave Bank said, "These funds will be used to expand the regulatory network, accelerate product development, build institutional-grade infrastructure, and expand the customer base in global markets."
Pave Bank CEO Salim Danani said, "The global financial system is moving toward on-chain regulated finance," and "We will become a trusted multi-asset bank bridging traditional finance and digital assets."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
