UK-based digital bank Griffin raised $20 million in a Series B funding round led by Octagon Partners, valuing the company at more than $100 million. The funds will support the expansion of card issuance, stablecoin reserve services and cross-border payments on blockchain. Griffin already serves more than 300,000 retail and business customers, including Uber, which uses the bank to provide accounts to UK drivers. The bank received its UK banking licence in March 2024 and reported recurring revenue 3.2 times higher than a year earlier, based on unaudited accounts.
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