Cari Raises $32.5 Million in Bank-Led Seed Funding

Cari, a digital currency network built on an Ethereum-anchored permissioned Layer 2 blockchain, said it has completed a $32.5 million seed round. According to Odaily, the funding came entirely from banking institutions, including First Horizon Bank, Huntington Bank, KeyBank, M&T Bank, Old National Bank, SouthState Bank, and Glacier Bank. The new capital will be used to speed up bank onboarding and integration and to expand tokenized deposits and programmable money use cases.