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Crypto Reporter

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NGC Ventures Invests in FV Bank, the Digital Challenger Bank and Digital Asset Custodian

October 20, 2021 By Crypto Reporter PR

NGC Ventures, one of the leading institutional investment firms, has announced a strategic investment in FV Bank, a dual-licensed challenger bank and digital asset custodian. This strategic investment and partnership will help drive FV Bank’s expansion throughout Asia.

FV Bank offers an entirely digital experience that meets the need for more open access to banking for FinTech, blockchain, and cryptocurrency companies. As a first-mover in the space, FV bank offers a hybrid solution that marries traditional banking services with asset custodian solutions — providing access to fiat and digital assets in the same account and facilitating seamless conversions of digital assets to fiat currency. This newly injected capital will be channelled into further enhancing its offering in the areas of banking and regulated crypto custodian services to provide an even greater level of accessibility and functionality.

On the firm’s strategic decision to invest, Roger Lim, NGC Venture’s Founding Partner said, “Digital assets have seen a phenomenal rise with a market cap of over US$2.5 trillion and yet few banks are actively supporting this demand. FV Bank has the potential to pioneer this nascent industry with sophisticated and robust solutions that cater to filling the sinkholes of traditional banking solutions. NGC Ventures is proud to support FV Bank in its pursuit to serve the digital-native clients of the future.”

Founded in 2018 by payments entrepreneurs Miles Paschini and Nitin Agarwal, FV Bank is among the few in the industry to have dual-licenship in banking and digital asset custody — enabling the bank to offer a state of the art, vertically integrated and regulated banking experience.

Miles Paschini, FV Bank’s CEO said, “As a challenger in both the FinTech and digital asset space, we are determined to expand our suite of vertically integrated banking services to cater to the hybrid needs of the institutional clients of today. Our partnership with NGC Ventures puts us in a powerful position to accelerate our innovation efforts and expand our network of clients in the greater Asia region.”

FV Bank raised US$8 million as part of the funding round, with participation from key investors such as NGC Ventures, BnkToTheFuture, Decentralized Ventures, DFG Fund, CCIX Global, Zenrain Technology, and Satvat.

NGC Ventures has been a key contributor to many industry-leading projects, such as Solana, Polkadot, Elrond and Avalanche with the aim to generate meaningful long-term value in the digital asset realm through early-stage investments.

About NGC Ventures
NGC Ventures (NGC) is one of the largest and most active institutional investors of cryptocurrencies. NGC adopts best practices from traditional financial markets to invest in and incubate leading projects in the crypto industry worldwide. Both our funds I and II have invested in over 70 projects, mostly in blockchain infrastructure and adoption technologies in areas such as De-Fi, Gaming and Decentralized Computing. NGC also incubated NGC StakeX, which is a node-operating division. NGC Ventures has offices in Singapore, Shanghai and San Francisco. For more information, visit https://ngc.fund/.

About FV Bank
Headquartered in Puerto Rico, FV Bank International Inc., licensed by the Office of the Commissioner of Financial Institutions (OCIF), is wholly owned by Fintech Holdings LLC. FV Bank is redefining international digital banking by seamlessly integrating traditional banking services with digital asset management. Founded by payments veterans Miles Paschini and Nitin Agarwal, FV Bank aims to support the growth and unique requirements of Fintech and blockchain companies and their clients. For more information, visit https://www.fvbank.us/.

Filed Under: Press Releases

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