In a significant move within the fintech landscape, Catena Labs, co-founded by former Circle executive Sean Neville, has successfully closed an impressive $18 million seed funding round. This financing, spearheaded by a16z Crypto, also saw participation from notable investors including Breyer Capital, Circle Ventures, Coinbase Ventures, and NFL icon Tom Brady. As the company aims to construct an AI-native banking framework, Neville envisions a future where artificial intelligence seamlessly conducts all financial transactions. Catena Labs has introduced an open-source protocol designed to unify and enhance AI payment systems and digital identity verification. Importantly, Catena Labs is not in the business of issuing any form of cryptocurrency or stablecoins at this time; instead, equity investments will be coupled with token warrants. Currently, the team comprises only nine members, and the technology aims to integrate with existing stablecoin frameworks without dependency.
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