Alta, a startup building a blockchain for regulated financial institutions, has raised a $47.5 million Series A led by Index Ventures, with participation from GV, Blackbird Ventures, Square Peg and Capital 49.
The round brings Alta's total funding to $80 million, including $32.5 million in earlier seed financing, according to a Nov. 10 company release. The company did not disclose a valuation.
Alta is developing its own blockchain architecture, which it says is built on recursive zero-knowledge cryptography. The release does not name an existing network. The company said it will use the new funds to continue developing the infrastructure, expand institutional partnerships and global financial connectivity, and add engineering and compliance staff.
Airwallex, the payments company, is building on Alta for stablecoin pay-ins and pay-outs and for connections to local fiat payment networks, the release said. Airwallex CEO and co-founder Jack Zhang is also a co-founder of Alta.
The release does not name any bank or other institutional customer, so the chain's intended users have not yet been publicly identified.