Augustus raises $180 million to build a clearing bank for the AI and stablecoin era
The firm, freshly valued at $1 billion, aims to replace legacy correspondent banking with always-on infrastructure that connects traditional payment systems and stablecoins.
AI Summary
Augustus raised $180 million at a $1 billion valuation, led by Tiger Global, to build a federally chartered clearing bank for the stablecoin era. The company aims to replace legacy correspondent banking with always-on infrastructure that connects traditional payment systems and blockchain networks. With conditional OCC approval and existing euro clearing, Augustus plans to expand dollar clearing and target customers in Latin America, Southeast Asia, the Middle East, and Africa.