Crypto
Home›Crypto›Stablecoins›Augustus raises $180 million for a stablecoin-ready gl…
Augustus raises $180 million for a stablecoin-ready global dollar bank
The Series B, led by Tiger Global, values the startup at $1 billion and targets correspondent banking by settling via Swift, ACH, SEPA, and stablecoins.
Augustus, a startup building a federally chartered clearing bank designed around stablecoins and programmable money, raised $180 million in a Series B round at a $1 billion valuation, according to Decrypt.
The round was led by Tiger Global and included participation from Hummingbird and QED, plus founders of Nubank, Ramp, Circle, and Deel, along with other backers including Circle co-founder Sean Neville and former Coinbase CTO Balaji Srinivasan. Augustus said it has raised $210 million to date.
Rather than issuing its own stablecoin, the firm is creating a “Global Dollar Bank” to let banks and fintechs move money across both traditional rails and blockchain networks, positioning stablecoins as an upgrade to cross border payment plumbing.
Augustus said its API first platform supports operating and FBO accounts and settles via Swift, ACH, SEPA, and stablecoins, running on a proprietary core banking system called Marble that it says enables faster settlement and 24 7 availability.
The investment highlights growing use of dollar pegged stablecoins as a settlement layer, extending the reach of the U.S. dollar and addressing limits of correspondent banking, which still largely operates on slow weekday schedules. Decrypt also links the push to Augustus getting a conditional OCC national bank charter in May.