Juno, a firm that provides a checking account for crypto natives to earn, invest and spend both cash and crypto, has bagged $18m in a Series A.
The Series A round was led by ParaFi Capital’s Growth Fund and also saw participation from Uncorrelated Fund, Greycroft, Jump Crypto, Hashed, Antler Global, 6th Man Ventures, Abstract Ventures and Mithril.
Juno aims to build an easy-to-use, trusted and compliant gateway to crypto and web3. With the recent funding, the company aims to expand its digital banking product suite and launch its first tokenised loyalty program.
The firm is introducing an ERC20 token as part of a tokenized loyalty program distributed only to verified account holders. It is one of the first tokens launched with no allocation for founders, investors, or employees. Over 75,000 Juno members are already eligible to claim 150 million Juno coins in airdrop for their previous activities on the Juno platform.
Juno members can earn Juno coins for taking paychecks in crypto or spending crypto with Juno card. Juno coins can be redeemed for discounts, rebates and exclusive access across their partner network.
Juno CEO and co-founder Varun Deshpande said, “Crypto natives in the US are finding existing banks completely inadequate for everyday use of crypto. We are rebuilding a checking account from the ground up with crypto and web3 at its core. Juno empowers members to earn part of their paycheck in crypto and use crypto for everyday transactions like bill payments or buying coffee.
“Earning and using crypto are critical financial primitives for creating and growing a circular crypto economy. Our tokenized loyalty program is meant to further accelerate the growth of this crypto economy”.
METAV.RS, a white label solution that facilitates the creation of NFTs and their sale via dedicated websites, e-shops or marketplaces, recently raised €3m in seed funding.
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