A total of $292.35 million in capital flowed into crypto projects across 10 deals between August 31 and September 5, 2026, with a primary focus on stablecoin and banking infrastructure. The tally excludes Polymarket’s rumored $1 billion funding round, which is still awaiting official confirmation.
The largest share went to Félix, a Miami-based startup that recently secured $200 million in a Series C round. The funding consists of $87 million in equity led by Andreessen Horowitz (a16z) alongside QED Investors, Castle Island Ventures, Switch Ventures, Contour, and Endeavor Catalyst, paired with a $113 million debt facility from General Catalyst Customer Value Fund.
Félix provides WhatsApp-based financial services for the Latino community in the United States. The platform leverages USDC on the Stellar network and partners with Bitso to process cross-border transfers.
To date, the service has processed over $8 billion in transactions for 6 million users across 11 Latin American markets. The latest funding triples the company’s valuation from its $75 million Series B in 2025, bringing its total capital to the $300 million mark.
While the capital injection into Félix targets retail users, funding flowing into startup Cari comes strictly from institutional banking pockets.
Direct Backing from Seven Banks
The Washington, D.C.-based firm raised $32.5 million in a joint round from First Horizon Bank, Huntington Bank, KeyBank, M&T Bank, Old National Bank, SouthState Bank, and Glacier Bank. The company is building a permissioned Ethereum Layer-2 commercial deposit token network.
Currently, 30 banks have joined the Cari network, while another 40 banking institutions are in discussions to participate.
Targeting National Bank Status
Beyond these two entities, a16z crypto also led a $25 million seed round for OpenReserve. OpenReserve has secured preliminary conditional approval from the U.S. Office of the Comptroller of the Currency (OCC). Even so, it must still raise at least $210 million in initial capital before it can operate as a national bank offering crypto custody, stablecoins, and deposit tokenization.
Jersey City-based Diameter Pay rounded out the list with a $10 million Series A co-led by CMT Digital and Lightspeed Faction. Prior to the funding announcement, the company had reportedly processed over $10 billion in payments throughout 2026.
This week’s wave of funding points to a clear trend: venture capitalists are prioritizing utility infrastructure. For retail users frequently burdened by cross-border remittance fees, the influx of hundreds of millions of dollars into the sector means more low-cost cross-border transfer options will soon be competing for your wallet.
Reported via crypto.news.
Also read: What Is DeFi (Decentralized Finance)?
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
