Tether Backs Pave Bank in $39M Raise to Expand Crypto-Friendly Banking

Core Insights - Tether Investments has participated in a $39 million Series A funding round for Pave Bank, which aims to integrate traditional banking with digital assets [1][4] - Pave Bank positions itself as a "programmable" commercial bank, offering services that cater to both fiat currencies and digital assets [2] - The company is based in Georgia and holds a commercial banking license, with plans for international expansion into the UAE, UK, and Europe [3] Company Overview - Pave Bank aims to provide a unified platform that combines banking, custody, payments, and settlements, reducing friction for businesses dealing with both fiat and crypto [5][6] - The investment from Tether indicates a strategic move to strengthen the infrastructure bridging traditional finance and cryptocurrency [4] Future Plans - With the new funding, Pave Bank plans to roll out services, secure additional licenses, and expand into new regions [7] - The success of Pave Bank will depend on its ability to gain traction among institutional clients and effectively merge fiat and digital asset systems [7]