augustus

Augustus is a startup that is building a federally chartered clearing bank. The company stated that it has raised $180 million, aiming to expand its dollar payment infrastructure, while stablecoins are reshaping the global financial system. This round of financing values Augustus at $1 billion. The round was led by Tiger Global Management, with participation from investors such as Hummingbird Ventures, QED Investors, as well as founders of Nubank, Ramp, Circle, and Deel.This financing comes at a time when banks, fintech companies, and crypto firms are competing to upgrade cross-border payment infrastructure. While the market's focus is mostly on stablecoin issuers, Augustus is targeting a less noticed but crucial part of the financial system—the correspondent banking system. Augustus CEO Ferdinand Dabitz stated in an interview, "We believe that the distribution of financial services is bottlenecked at the clearing bank level." He pointed out that traditional clearing systems are "slow, not available around the clock, take two days to settle, and are closed on weekends."

Stablecoin bank Augustus has obtained a federal banking license issued by the Office of the Comptroller of the Currency (OCC), becoming the eighth institution to receive this license since 2010, and has simultaneously completed a $40 million financing round, with investors including Valar Ventures, Creandum, Ramp, Deel, and the founder of Circle.

ChainCatcher message, the DEX aggregator ParaSwap announced on platform X that it has discovered a critical vulnerability affecting users authorized by the Augustus V6 contract. ParaSwap has suspended the V6 API and conducted a white hat attack to ensure the safety of user funds. These funds are now securely stored in a Safe wallet starting with 0x66E90 and will be returned to users shortly.Additionally, users must revoke permissions for the Augustus V6 contract. Currently, 4 addresses are affected, with a total loss of $24,000.