Alta raises $80 million to build banking blockchain

Alta raised $80 million to develop blockchain infrastructure for banks and payment companies entering onchain finance.

The funding includes a $47.5 million Series A and $32.5 million in previous seed financing.

“Existing blockchains aren’t designed for the privacy and compliance requirements of global financial institutions,” Alta Co-Founder and Chief Executive Officer Loong Wang said in a statement.

Index Ventures led the Series A, with GV, Blackbird Ventures, Square Peg and Capital 49 participating.

Alta's early partner Airwallex will connect its payments infrastructure to the blockchain, supporting stablecoin transactions across 200 countries and 90 currencies.

The network uses recursive zero-knowledge cryptography to protect transaction details while verifying compliance with institutional requirements.

Alta's first product targets businesses holding cash across multiple jurisdictions, enabling just-in-time funding and access to tokenised yield-bearing assets.

The $80 million funding will support infrastructure development, institutional partnerships and expansion of Alta's engineering and compliance teams.