Crypto accounting platform Crypto raised $ 15 million in an extension to its Series of a funding of funding from June 2022.
Existing investor Alven led the twist and featured participation from new supporters of 1KX and Ledger Cathay Capital, Crypto told CoinDesk via email on Wednesday.
The $ 15 million raised takes total for a series of a round of $ 25 million.
Crypto’s goal is to provide traditional financial creatures (Tradfi) with back-office and infrastructure operations that allow them to offer digital assets such as stablecoins, crypto-supported loans and crypto savings.
Many observers rely on the number of banks that offer crypto services to increase compliance with Ending US Securities and Exchange Commision (SEC) ” S controversial Sab 121 Accounting rule.
Sab121 determined that a company that maintains a customer’s crypto must record them on its own sheet of balance, which potentially have basic implications for the allocation of capital of banks when working with Crypto clients. It is drawn from participants in the crypto industry as it does not account for the lack of guide from the SEC to how security laws apply to digital property.
The abolition of this law is therefore appreciated as a sign of regulatory landscape regulation for cryptocurrency in the US
Read more: A new (digital) age in the SEC
