Singapore-based lending platform Vauld raised $2 million, led by Pantera Capital, to grow into a full crypto bank. Other investors include Coinbase Ventures, LuneX Ventures and individual investors including Robert Leshner of Compound Finance.
So far, Vauld has established a foothold in India, where a favorable ruling from the courts earlier this year has unleashed a flood of crypto activity.
“Hiring is the focus of the hour in the Indian market,” Vauld co-founder and CTO Sanju Sony Kurian said in a statement.
The company, formerly known as Bank of Hodlers, will use the funds to expand from lending and borrowing to become a holistic banking platform that also includes payments and trading. Vauld also seeks to broaden its presence in Europe and the U.S.
“We see institutional capital come into the crypto space with the expectation of banking integrations to complement crypto credit offerings,” CEO Darshan Bathija said in a statement.
The company’s immediate aims include…