Alta, a startup developing blockchain infrastructure for banks and payment institutions, has raised $47.5 million in Series A funding, led by Index Ventures, with participation from GV, Blackbird Ventures, Square Peg, and Capital 49, bringing its total funding to $80 million. Alta is developing a blockchain with built-in privacy and compliance controls to meet the business needs of financial institutions. Payment company Airwallex has become an early partner, and the two companies plan to integrate Alta's blockchain into Airwallex's global payment network, supporting stablecoin transfers and local fiat currency payments. Alta's first product will reduce the amount of capital tied up in pre-funded accounts for businesses through an instant fund transfer mechanism and will support the allocation of idle funds to yield-generating tokenized assets. This round of funding will be used for blockchain development, expanding partnerships with financial institutions, and recruiting engineering and compliance personnel. The company did not disclose its valuation. (The Block) https://(wublock123.com)/news/alta-raises-47-5m-series-a-to-expand-payments-with-airwallex-71701