Crypto Bank Vauld (previously known as Bank of Holders) gets $2 Million in fundraisings from industry leaders including Pantera, Coinbase Ventures, CMT digital, and individual investors like Robert Leshner of Compound Finance, Tarun Chaitra’s Robot Ventures, CoinShares, Better Capital, New Form Capital, Jesus Rodrigues (the CEO of IntoTheBlock), over the last four months.
Vauld uses these funds to establish and expand crypto banking in India. The company will provide borrowing, lending, trading, and payments. Vauld also looking to expand its reach in Europe and the U.S.
CEO Darshan Bathija said in a statement: “We see institutional capital come into the crypto space with the expectation of banking integrations to complement crypto credit offerings.”
Vauld plans to expand its team of 7 members to 20. “Hiring is the focus of the hour in the Indian market,” Vauld co-founder and CTO Sanju Sony Kurian said in a statement.
Darshan Baithja Co-Founder of Vauld said: “We will work closely with the commodities and banking regulators to ensure that we and our partners are and remain fully compliant through the changing regulatory landscape.”
The company’s aim is to implement an Over the Counter (OTC) desk, debit and credit cards, Fiat, and crypto trading for different countries. Users will get all traditional banking services in a more secure and transparent ecosystem. Vauld has partnered with industry leader custodian Bitgo, the most trusted custodian in the crypto world. BitGo’s wallets are insured by Lloyd’s London for a sum of $100 Million, ensuring the safety of our customers’ deposits, and lending both you and us, peace of mind.
Vauld intends to expand licensing across international crypto hubs including Singapore and the U.K. in the next 24 months
Investor Paul Veradittakit, partner at Pantera Capital, said in a press release his firm is excited about “Vauld’s vision to make cryptocurrencies the preferred instrument of banking by making it simple to use and interoperable with the current banking infrastructure.”
Official Website: https://www.vauld.com/