Digital asset bank Custodia completes $7 million financing

ChainCatcher news indicates that digital asset bank Custodia (formerly Avanti) has completed a $7 million financing, according to a filing submitted to the SEC. The initial sale date for this round of equity financing was in early October, with a total of 36 investors.

Last March, the company completed a $37 million Series A financing, with participation from Binance.US, Coinbase Ventures, and Lemniscap. To date, Custodia's total financing has reached $51 million. In 2020, Custodia obtained a banking license from the state of Wyoming, complying with regulations and systems such as the Bank Secrecy Act and anti-money laundering laws. (The Block)