Cari Completes $32.5 Million Financing Round with Participation from Banking Institutions

Cari has completed a $32.5 million Series A financing round, with all funds coming from banking institutions. The investors include First Horizon Bank, Huntington Bank, KeyBank, M&T Bank, Old National Bank, SouthState Bank, and Glacier Bank. Cari operates a permissioned Layer 2 blockchain anchored on Ethereum, primarily helping banks to put funds on-chain and provide programmable financial services through shared infrastructure. The new funds will be used to accelerate bank access and integration, as well as to expand tokenized deposits and programmable currency application scenarios.

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