"The crypto markets are booming, but the most recent wave of enthusiasm isn't just from small-time traders or dabblers curious about memecoins. Big financial institutions are leaning in. Etherealize, a startup launched in January, hopes to convince Wall Street to dive even further into crypto, and it's raised $40 million to build out products and infrastructure on Ethereum for financial institutions."
"Longtime crypto venture capitalists Electric Capital and Paradigm led the fundraising round. Vitalik Buterin, a cofounder of Ethereum, and the Ethereum Foundation, a nonprofit devoted to developing the protocol, also helped fund Etherealize with an initial grant. The raise was for equity and token warrants, Vivek Raman, CEO and cofounder of Etherealize, told Fortune."
""Now's the time to really, really mobilize," Raman said. "I think that we have the best window of first possible adoption that I've ever seen.""
"The Etherealize CEO isn't speaking just as a crypto booster-but as a veteran of traditional finance who's spent years at Morgan Stanley, UBS, and Deutsche Bank. "There aren't institutional builders that are willing to go through and walk through all of their processes and pain points," he said. "I want to do that. I actually think that stuff is fun.""
Etherealize launched in January and raised $40 million to develop Ethereum-based products and infrastructure targeted at financial institutions. Electric Capital and Paradigm led the fundraising round, with Vitalik Buterin and the Ethereum Foundation providing an initial grant. The raise included equity and token warrants. CEO Vivek Raman, formerly of Morgan Stanley, UBS, and Deutsche Bank, aims to guide institutional builders through operational processes and pain points to drive adoption. Pro-crypto regulatory shifts under the Trump administration have prompted banks and asset managers to explore stablecoins and blockchain-based financial products.
Read at Fortune Crypto
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