U.K. bank Griffin has secured $20 million to extend into stablecoins, as traditional finance-focused firms increasingly seek to connect conventional banking with blockchain-based payments.
The Series B round, led by Octagon Partners with participation from Notion Capital, A+ Ventures, Nordic Ninja and Breega, valued the London-based company at more than $100 million, according to an announcement on Thursday.
Griffin plans to use the funds to build reserve services that let businesses incorporate stablecoins and enable onchain cross-border payments on its banking platform.
Fintech companies could therefore access conventional banking services alongside onchain payment rails through a single provider, reflecting demand from some existing customers that already use stablecoins in their cross-border payments businesses.
Griffin, which received a full U.K. banking license in 2024, provides banking infrastructure for more than 80 companies, including Uber and reward cards platform Yonder.
