Blockchain fintech company CloudTech completes $14 million Series A funding and will launch institutional-grade custody solutions for digital assets

News: Blockchain financial infrastructure startup CloudTech has completed a $14 million Series A funding round, with $11 million raised in Bitcoin and USDT. These funds will be used to launch an institutional-grade custody solution for digital assets and expand a broader crypto-native financial ecosystem. The funding round came from multiple undisclosed investors. Founded in 2021, CloudTech has a team of 40 people based in Melbourne, offering digital financial services including over-the-counter trading, stablecoin solutions, and CobWeb Pay (which converts cryptocurrency to Australian dollars for daily shopping). Chief Financial Officer Mandy Jiang stated that custody services are crucial for institutional entry into this field, and they are building a solution that combines blockchain advantages with traditional financial standards and safeguards. The company's custody platform will provide isolated wallets, end-to-end encryption, and transparent reporting capabilities. (Startup Daily)