Custodia, the digital asset bank founded by Wall Street veteran Caitlin Long, closes $7 million in funding

According to The Block, according to documents submitted to the US Securities and Exchange Commission (SEC), Custodia (formerly known as Avanti), a digital asset bank with a banking license in Wyoming, USA, completed a $7 million financing. The financing of this round was not disclosed in the document. Investors, the company has 36 investors, with the first sale date for the round being early October, according to documents. The bank plans to launch in the second quarter of this year, offering U.S. dollar deposit accounts for corporate customers, but the bank has not yet launched, according to a February release. Founded in 2020 by Wall Street veteran Caitlin Long, Custodia aims to provide real-time settlement finality for U.S. dollar payments in digital asset transactions. Custodia closed a $37 million Series A round last March, with participation from Binance.US, Coinbase Ventures, and Lemniscap, bringing the startup’s total funding to $51 million.