POPA ReconCari Raises $32.5M From a Consortium of US Banks
Cari Raises $32.5M From a Consortium of US Banks Cari has raised $32.5 million in the first tranche of its initial funding round, entirely from banks. Glacier Bank joined the six original design-partner banks: First Horizon, Huntington, KeyBank, M&T Bank, Old National and SouthState. Cari runs a permissioned Layer 2 governed by its member banks, letting chartered institutions issue tokenized versions of their own commercial bank deposits, liabilities that stay on the bank's balance sheet rather than moving to an outside stablecoin issuer. The network already counts more than 30 committed ban…
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