Startup Stablecore has successfully raised $20 million in investments to develop solutions for integrating digital assets into financial institutions in the United States.
This is reported by Business • Media
Investors and Stablecore’s Development Plans
The funding round was led by the venture capital firm Norwest, with other investors including Coinbase Ventures, Curql, BankTech Ventures, Bank of Utah, EJF Ventures, and the Bankers Helping Bankers Fund. Collectively, these investors represent over 290 financial organizations.
The funds will enable Stablecore to scale its operations, expand its team, and increase its client base among more than 8,000 local and regional banks and credit unions in the U.S.
Company Mission and Relevance of Solutions
The company emphasizes that it positions itself as a “digital banking core,” integrating with modern banking services to offer products based on stablecoins and tokenized deposits. This allows banks and credit unions to maintain full control over their assets and work with various custodians.
Co-founder and CEO of Stablecore Alex Tris stated that following changes in the regulation of digital assets, banks have become a natural environment for such solutions. According to him, the company helps preserve deposits, create new revenue streams, and enhance the competitiveness of local banks.
Funding from leading venture capital firms indicates a high demand for digital banking solutions among U.S. financial institutions. The company is confident that its platform will enable banks to effectively integrate cryptocurrency-based products, strengthen their market positions, and meet the modern challenges of the financial market.
It was previously reported that the AI-focused cryptocurrency wallet Senpi raised $4 million in investments from Lemniscap and Coinbase Ventures.