Alta Closes $47.5 Million Series A Round

According to Fortune, compliance-focused blockchain startup Alta announced on Tuesday that it has completed a $47.5 million Series A round at an undisclosed valuation. The round was led by Index Ventures, with participation from GV, Blackbird Ventures, Square Peg, and Capital49, which was established by Airwallex co-founders. Previously, the company had completed a $32.5 million seed round with primary backing from Airwallex. Alta was co-founded by CEO Loong Wang and former Meta executive Catherine Porter. Recently renamed from Metal, the company now employs 25 people and has offices in San Francisco and Melbourne. Wang stated that the chain provides privacy and compliance tools for large financial institutions like banks, featuring capabilities to prevent random transfers to on-chain addresses from strangers.