Home / Business and Economy / Cross River Bank Secures $50M Boost for AI & Crypto Push
Cross River Bank Secures $50M Boost for AI & Crypto Push
31 Mar
Summary
- Cross River Bank raised $50 million from existing investors.
- The new funding values the fintech-focused lender at over $3 billion.
- Investment will accelerate product launches and international expansion.
Cross River Bank has successfully raised $50 million in new capital from its existing investors, bolstering its strategic focus on artificial intelligence and cryptocurrency. The funding round values the fintech-focused lender at slightly more than $3 billion, according to sources familiar with the matter.
This capital infusion is intended to accelerate the launch of new products, strengthen existing partnerships, and facilitate international growth. Cross River aims to leverage its integrated platform, which combines lending, payments, cards, and cryptocurrency infrastructure with an AI layer for improved compliance and risk management.
Founded in 2008, Cross River Bank serves as a crucial banking partner for over 100 technology and fintech firms, including major players like Stripe and Coinbase. The bank's infrastructure enables embedded financial services across various sectors, including payments, lending, and digital assets. Recently, X (formerly Twitter) also partnered with Cross River for its payment offerings.
The bank has also made notable strides in the cryptocurrency space, including its integration with Solana and its participation in Visa's USDC stablecoin settlement pilot in December.
