Augustus raises $180M to build stablecoin-era clearing bank

Financial infrastructure startup Augustus has raised $180 million in a Series B funding round that values the company at $1 billion.

The firm plans to use the capital to expand a banking platform designed to connect traditional payment networks with stablecoins and round-the-clock settlement.

Tiger Global led the funding round, with participation from Hummingbird, QED and founders or executives linked to Nubank, Ramp, Circle and Deel. Augustus said the new capital will support its expansion among banks and fintech companies in Latin America, Southeast Asia, the Middle East and Africa.

Augustus targets the correspondent banking system

Augustus is building infrastructure aimed at financial institutions that need access to U.S. dollar payment rails. Its platform supports operating and FBO accounts, named virtual accounts and transfers through Swift, ACH, SEPA and stablecoins. The company says its own core banking platform, Marble, uses automation across back-office operations and supports 24/7 availability.

Chief Executive Ferdinand Dabitz has positioned the company against the traditional correspondent banking model, where financial institutions often rely on several intermediaries to send money across borders. “We think distribution breaks at the clearing bank layer,” Dabitz said, arguing that older systems can be slow and unavailable outside normal banking hours. The company does not plan to issue its own stablecoin. Instead, it wants to provide the banking infrastructure that allows institutions to use both conventional payment networks and blockchain-based settlement.

The strategy follows Augustus securing conditional approval from the Office of the Comptroller of the Currency in May to establish Augustus National Bank, N.A. The OCC’s official records list the charter application under Corporate Decision 1374, dated May 8. However, conditional approval does not mean the bank has fully opened, and Augustus must complete the remaining regulatory requirements before adding direct U.S. dollar clearing through the proposed bank.

As previously reported, Augustus already operates regulated European entities and says it processes billions for international financial institutions, including crypto exchange Kraken. The planned U.S. bank would add direct dollar access to a business that already provides euro clearing services.

Stablecoins become part of institutional payment infrastructure

Augustus is raising capital as banks, fintech firms and crypto companies compete to build faster cross-border payment systems. Stablecoins have become one option for institutions that want to move dollar-linked value outside traditional banking hours, while established financial networks are also adding blockchain-based infrastructure.

Dabitz said he expects clearing banks to eventually offer stablecoin settlement alongside systems such as Fedwire. “We think in 10 years from now all clearing banks will offer stablecoin rails like they offer Fedwire,” he said. Augustus also sees the technology as a way for institutions to move liquidity between markets without keeping large balances spread across multiple correspondent bank accounts.

The company’s approach differs from stablecoin issuers because Augustus plans to provide the bank accounts and clearing infrastructure around digital dollars rather than create a new token. Its goal is to connect regulated financial institutions with both fiat and blockchain payment networks through the same platform.

That model is developing alongside other efforts to shorten cross-border settlement times. ,Circle expanded its institutional payment network through Fireblocks, allowing companies to route USDC payments into local fiat payouts across more than 50 countries. The companies said those transfers can settle in minutes instead of relying on multi-day correspondent banking processes.

Traditional banking networks are moving in the same direction through different technology.Swift launched a blockchain-based shared ledger initiative with 17 global banks to support round-the-clock cross-border payments using tokenized bank deposits rather than stablecoins.

Augustus links AI systems with programmable payments

Augustus also describes its banking model as built for an economy where artificial intelligence systems can initiate financial activity. Dabitz said programmable money could become necessary as AI agents begin interacting directly with banks and payment systems.

“If AI agents should interact with the bank in a meaningful way, they will need programmable money,” he said. Augustus argues that banking systems built around fixed operating hours and manual processes may not suit software that operates continuously and can carry out transactions without direct human input.

As crypto.news explained in its coverage of AI agent payments, stablecoins are increasingly being used as one payment method for software that needs to purchase services or move funds automatically. Such systems remain at an early stage, but payment companies and blockchain firms are already developing infrastructure for machine-led transactions.

Augustus now plans to use its $180 million funding round to expand internationally while completing the requirements attached to its U.S. banking approval. The company says its long-term model combines direct bank clearing, traditional payment rails and stablecoin settlement without requiring customers to rely on separate providers for each system.

For now, its ability to offer direct U.S. dollar clearing remains tied to final regulatory approval and the launch of Augustus National Bank. The new funding gives the company more capital to build that infrastructure while the wider financial sector continues testing how bank money, stablecoins and always-on settlement can operate within the same payment system.