In a significant move for the convergence of traditional finance and digital assets, Cross River Bank has secured a $50 million funding round to accelerate its artificial intelligence and cryptocurrency initiatives. The investment, led by a fund managed by T. Rowe Price and announced in February 2025, marks a strategic expansion for the New Jersey-based institution.
The bank plans to allocate the capital across several key areas: AI development, cryptocurrency infrastructure expansion, regulatory compliance technology, and strengthening partnerships with blockchain networks. A notable aspect of its crypto strategy is its active participation in Solana-based infrastructure development, leveraging the network's high-speed, low-cost transaction capabilities for banking applications.
Furthermore, Cross River Bank has joined Visa's pilot program for USDC stablecoin settlement. This initiative aims to reduce payment settlement times from days to minutes using the regulated USD Coin. The bank's involvement underscores a growing trend of regulated financial institutions integrating stablecoins into their payment systems.
Separately, stablecoin startup The Better Money Company has raised $10 million in a funding round led by a16z crypto, with participation from BoxGroup, Sunflower Capital, and angel investors including Circle co-founder Sean Neville. This investment highlights continued venture capital confidence in the stablecoin sector, which boasts a total market capitalization exceeding $160 billion.
