Stablecoin Bank Augustus Secures Federal Banking License and Completes $40 Million Funding

Stablecoin bank Augustus has received a federal banking license from the U.S. Office of the Comptroller of the Currency (OCC), marking it as the eighth institution to obtain this license since 2010. According to ChainCatcher, Augustus has also completed a $40 million funding round. The investment was led by Valar Ventures, associated with Peter Thiel, along with contributions from Creandum and founders of Ramp, Deel, and Circle.