Crypto funding focus shifts to regulated banking infrastructure

Miami-based Félix led the market activity, securing a $200 million package consisting of $87 million in equity and a $113 million credit facility from General Catalyst. The platform, which facilitates WhatsApp-based remittances for Latino customers, plans to deploy the capital to expand into lending and AI-driven financial services. This round brings the company's total funding to nearly $300 million, following a reported tripling of its valuation since 2025.

Institutional interest centered heavily on the intersection of traditional banking and digital assets. Washington-based Cari raised $32.5 million exclusively from seven U.S. banks, including KeyBank and M&T Bank, to build a network for tokenized commercial bank deposits. Similarly, OpenReserve secured $25 million in seed funding led by a16z crypto. The company is currently navigating the regulatory process to launch a national bank, having already received preliminary conditional approval from the Office of the Comptroller of the Currency.

Other notable activity included Diameter Pay’s $10 million Series A, aimed at scaling its stablecoin payment rails and virtual account services. While venture capital remains selective, the concentration of liquidity in projects like Firelight, MemeBitcoin, and Plenti suggests that investors are prioritizing firms with established compliance frameworks and clear utility in cross-border settlement.