Cari, a bank-led digital currency network, has raised $32.5 million in its first external funding round, with investments from First Horizon Bank, Huntington Bank, KeyBank, M&T Bank, Old National Bank, SouthState Bank, and Glacier Bank. Built on an Ethereum-anchored permissioned Layer 2 blockchain, the platform helps banks bring funds on-chain via shared infrastructure to enable programmable financial services. The funds will accelerate bank onboarding, integration, and expand tokenized deposit and programmable money use cases.
Businesswire reports that Cari, a bank-led digital currency network, has closed its first outside funding round at $32.5 million. Every dollar came from banking institutions, including First Horizon Bank, Huntington Bank, KeyBank, M&T Bank, Old National Bank, SouthState Bank, and Glacier Bank, among others.
Cari runs on an Ethereum-anchored permissioned Layer 2 blockchain. The pitch is straightforward: help banks move funds on-chain with shared infrastructure and open the door to programmable financial services. This fresh capital will speed up bank onboarding and integration. And it will also widen the use of tokenized deposits and programmable money.
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