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CloudTech crypto custody funding
Key Points:* CloudTech raises $14 million for digital asset custody development.
The funding, involving a large contribution of Bitcoin and USDT, signifies increased institutional demand for secure, regulated crypto services.
CloudTech’s $14M Series A: Crypto Custody Revolution
CloudTech has successfully closed a $14 million Series A funding round, primarily sourced from Bitcoin and stablecoin USDT. This investment is planned to aid the launch of a robust digital asset custody solution aiming to enhance institutional participation. The funding fortifies the firm’s capability to deliver isolated wallets and encrypted reporting features.
“This investment is crucial for building the core infrastructure of the digital asset economy,” said Mandy Jiang, CFO of CloudTech.
The financial backing, primarily leveraging digital assets like BTC and USDT, highlights growing institutional trust in cryptocurrency as a solid source of investment capital. This step forward is expected to propel the firm’s position in providing reliable crypto asset management solutions. Although there is currently no official regulatory feedback on this funding round, the Australian crypto community has shown interest in CloudTech’s strategic expansion.
Bitcoin and USDT Drive New Funding Paradigm
Did you know? Historical funding rounds in the fintech sector predominantly involved fiat currency, highlighting CloudTech’s Bitcoin and USDT emphasis as a growing trend towards utilizing digital assets in venture capital.
Bitcoin (BTC) currently trades at $109,560.60 with a market cap of $2.18 trillion (CoinMarketCap). BTC’s recent movements show a 6.11% rise over 24 hours, reflecting increased market attention and evolving dominance at 63.04%. This trend is indicative of BTC’s strong standing amid a broad push for institutional upgrades in the fintech sector.
| | | --- | | DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |