Protego Trust Bank Plans to Hit a $2 Billion Valuation Following Next Funding Round

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Protego Trust Bank, which has a license as a crypto bank in the United States, has opened a Series B funding round in which the company expects to receive a $2 billion valuation, The Block reports.

According to sources, the negotiations are at an early stage.

Protego Trust Bank’s previous $70 million round involved the investment arm of FTX, Coinbase, Algorand, Avalanche, Cardano, Ripple, Solana, Digital Currency Group, NYCA Partners, and Reciprocal Ventures.

Protego Trust Bank was licensed as a cryptocurrency bank in February last year. Paxos and Anchorage also became its owners.