FV Bank: Secures $8M in Series A Funding

FV Bank Secures $8M in Series A Funding

• FV Bank, a Puerto Rico-based dual licensed challenger bank and digital asset custodian, closed of Series A funding round worth $8m at a post money valuation of $48.9m
• Backers included BnkToTheFuture, Decentralized Ventures, NFG Fund, CCIX Global, Zenrain Technology, and Satvat
• FVBank offers an online-only banking platform for more open access to banking for FinTech, blockchain, and cryptocurrency companies
• The first bank in Puerto Rico with an Office of the Commissioner of Financial Institutions digital asset custody license, FVBank offers companies a hybrid solution — combining integrated traditional banking services
• The company also recently announced an agreement with data software firm Fireblocks to provide custody infrastructure
• The integration between Fireblocks’ enterprise level MPC-based wallet and network infrastructure and its proprietary FVNet will support FVBank’s regulated digital asset custody services