Blockchain financial infrastructure startup CloudTech completes $14 million Series A funding round

According to Startup Daily, CloudTech, a blockchain finance infrastructure startup based in Melbourne, Australia, announced the completion of a $14 million Series A funding round. It is reported that approximately $11 million of the funding will be provided in the form of Bitcoin and stablecoin USDT. The company's current business covers over-the-counter (OTC) transactions, stablecoin solutions, and CobWeb Pay, which can convert cryptocurrencies into Australian dollars for regular shopping. The new funds are intended to be used to launch institutional level digital asset custody solutions.