Pave Bank, a Singapore-based provider of a programmable bank service, raised $5.2M in Seed funding.
The round was led by 468 Capital with participation from Quona Capital, FT Partners, BR Capital, w3.fund, Daedalus and angel investors.
The company intends to use the funds to expand operations and its business reach.
Led by Founded by Salim Dhanani (CEO), Simon Vans-Colina (CTO) and Dmitry Bocharov (COO), Pave Bank is a regulated commercial bank where clients can get business banking products (such as multi-currency operating accounts, global payment connectivity, and treasury management solutions) and will also have access to multi-asset custody, virtual IBANs, safeguarding accounts, and PaveNet, which is a multi-asset, always instant and always on network of Pave Bank customers.
The company offers a secure and regulated platform for businesses to transact in stablecoins, Central Bank Digital Currencies (CBDCs), and tokenized Real World Assets (RWAs).
Pave Bank has started the regulatory journey with a digital commercial banking licence in Georgia, which is strategically positioned between Europe, the Middle East and Asia, with close ties to the European Union, and plans to continue to build its regulatory infrastructure globally.
FinSMEs
14/12/2023