Augustus raises $180 million funding as it chases a full US bank charter and Fed account

Augustus, a startup building what it calls the Global Dollar Bank, has raised $180 million in a Series B funding round at a $1 billion valuation. Tiger

• Augustus, a fintech startup aiming to become a full-service national bank, has secured $180 million in Series B funding.
• The company has received preliminary conditional approval for a national bank charter, which would allow it to hold a Federal Reserve master account and clear US dollars directly.
• Previously operating in Europe with a payment institution license, Augustus aims to leverage its funding and charter approval to expand its US operations.

Topics: Jurisdictions, Banks bankingsystems, Legal regulatory, Established hubs, Core banking integration, Licensing issuer obligations

Tags: #augustus #globaldollarbank #bankcharter #federalreserveaccount #tigerglobal #seriesbfunding #officeofthecomptrollerofthecurrency #fdicinsurance #kraken #fintech

Read more