a16z-backed Lead Bank partners with Loop Crypto

BlockBeats News, December 11th, according to The Block, Loop Crypto announced on Tuesday that it will partner with Lead Bank to seize the anticipated stablecoin growth opportunity.

Lead Bank, a 97-year-old community bank based in Kansas City, Missouri, has recently shifted its focus to fintech and cryptocurrency companies. The bank was acquired by a group of tech executives led by Jackie Reses in 2022. Earlier this year, Lead Bank completed a $70 million Series B funding round, valuing the bank at $1.47 billion. Investors include Andreessen Horowitz (a16z), ICONIQ, Greycroft, Ribbit Capital, Coatue, Khosla Ventures, and Zeev Ventures.

Meanwhile, Loop Crypto announced earlier this year that the company has raised a total of $6 million, with some funding also coming from a16z.