Alta raises $47.5M for blockchain backed by crypto skeptic Jack Zhang

Blockchain startup Alta has raised $47.5 million in a Series A funding round led by Index Ventures to develop payment infrastructure for banks and financial institutions, bringing its total funding to $80 million. Alta raised $47.5 million in a Series A funding round led by Index Ventures, bringing its total funding to $80 million as it develops blockchain infrastructure for banks and financial institutions. Alta is developing a Layer 1 blockchain with built in privacy and compliance features that allow financial institutions to control transactions and protect sensitive customer information. Airwallex plans to integrate its global payments infrastructure with Alta, potentially connecting stablecoin transactions to local payment networks across 200 countries and 90 currencies.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to crypto.news.