Banking services provider Sila has raised $7.7mn.
Sila uses APIs for entrepreneurs to implement banking tools and easily launch services.
Its developer sutie issues a stablecoin, SilaToken, which every transaction on the platform is done through.
It expects to grow to 40 clients by the end of the year.
What does this mean?
It’s thought stabelcoins could become a more common feature of FinTechs as Sila grows. The company will use the new funding to build out more features on its platform.