Arca secures $10M in Series A funding as traditional financiers back crypto

 

Arca, an emerging digital-asset manager, has secured $10 million in Series A funding to bootstrap the next phase of its business strategy — one that could bridge the gap between traditional finance and cryptocurrencies. 

In a Wednesday press release, Arca said the funding round was led by venture capital firm RRE Ventures, with key contributions from Alex Tisch, president of Loews Hotels & Co, and a “coalition of financiers led by Littlebanc Advisors.”

Arca sai it will use the funding to enhance its infrastructure and digital service offerings, as well as stay abreast of all the legal and regulatory requirements in the industry.

Rayne Steinberg, Arca’s CEO, told Cointelegraph that 2020 was a watershed year for cryptocurrency. Although that’s in large part due to Bitcoin (BTC), the firm has seen “this initial awareness translate into interest in the many other aspects of digital assets.”

When asked about the biggest roadblock to digital asset adoption, Steinberg…


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