BlockBeats News, on June 11, according to a report by Startupdaily, Melbourne-based blockchain financial infrastructure startup CloudTech announced the completion of a $14 million Series A funding round. It is reported that approximately $11 million of this funding was provided in the form of Bitcoin and the stablecoin USDT. The company's current business scope includes over-the-counter (OTC) trading, stablecoin solutions, and CobWeb Pay, which enables the conversion of cryptocurrencies into Australian dollars for everyday shopping. The newly acquired funds are planned to be used to launch institutional-grade digital asset custody solutions.
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