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Institutional Crypto Bank Set To Launch Through Avanti Financial

On the 25th of March, 2021, Avanti Financial Group gave out an announcement that it had successfully raised $37 million by way of a Series A funding round. This allows the company to take another step closer to its plans to launch a digital asset bank. Big Players Involved In the announcement, Avanti declared that the proceeds of this funding round will be used to fund the minimum mandated capital needed by regulatory authorities to launch the bank. Alongside this, the funding will also be used in order to cover various operating expenses as well as fund further development. With…

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Avanti Financial raises $37 million to launch institutional crypto bank

The digital asset bank will be aimed at institutional investors only, and there is no exchange planned. The Avanti Financial Group has announced that it has raised $37 million in a Series A round, bringing the company closer to launch as a digital asset bank. In a March 25 announcement, Avanti stated that it will use the proceeds to fund the required regulatory capital needed for launch, in addition to funding development and other operating expenses. The round brings the total amount raised to $44 million. Participants in the round are a who’s who of institutional investors including Coinbase Ventures,…

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