TechFlow news, June 11 — According to Startup Daily, Melbourne-based blockchain financial infrastructure startup CloudTech has raised $14 million in its Series A funding round, including $11 million paid in Bitcoin and the stablecoin USDT.
The funds will be used to launch an institutional-grade custody solution for digital assets and expand the broader crypto-native financial ecosystem. The round was backed by multiple undisclosed investors.
Founded in 2021, CloudTech has a 40-person team headquartered in Melbourne. Its digital financial services include over-the-counter trading, stablecoin solutions, and CobWeb Pay—a service enabling users to convert cryptocurrencies into Australian dollars for everyday purchases.
Chief Financial Officer Mandy Jiang said custody is critical for institutional adoption, and the company is building a solution that combines the advantages of blockchain with traditional finance standards and safeguards. Its custody platform will offer segregated wallets, end-to-end encryption, and transparent reporting features.
