Lead Bank supported by a16z partners with Loop Crypto

According to The Block, Loop Crypto announced on Tuesday that it will establish a partnership with Lead Bank to seize the anticipated growth opportunities in stablecoins.

Lead Bank is a community bank with a 97-year history, headquartered in Kansas City, Missouri, but in recent years it has transformed to focus on fintech and cryptocurrency companies. A group of tech executives led by Jackie Reses acquired Lead Bank in 2022. Earlier this year, Lead Bank completed a $70 million Series B funding round, raising its valuation to $1.47 billion. Investors include Andreessen Horowitz (a16z), ICONIQ, Greycroft, Ribbit Capital, Coatue, Khosla Ventures, and Zeev Ventures.

Earlier this year, Loop Crypto stated that the company has raised a total of $6 million, with part of the funding also coming from a16z.