TechFlow news, May 20 — According to Fortune, Catena Labs, a new company founded by Circle co-founder Sean Neville, has raised $18 million in seed funding. The round was led by Andreessen Horowitz’s crypto fund, with participation from Breyer Capital, Circle Ventures, Coinbase Ventures, and American football player Tom Brady.
Catena Labs plans to build an "AI-native bank." Investors will receive equity as well as rights to purchase tokens of an unreleased cryptocurrency. Sean Neville stated the company currently has no plans to issue any cryptocurrency or stablecoin.
Catena Labs has already developed an open-source protocol for AI-powered payments and identity verification. The company will integrate—but not be limited to—stablecoin technology, aiming to upgrade existing financial infrastructure for future financial transactions dominated by AI agents.
