U.S.-licensed bank Cross River Bank raises $50 million to expand its artificial intelligence and cryptocurrency businesses

According to ChainCatcher, the US licensed bank Cross River Bank has completed a $50 million funding round. The funds came from a fund under T. Rowe Price, and the raised capital will be used to further expand its artificial intelligence and cryptocurrency business.

After the completion of this funding round, Cross River Bank’s valuation is slightly above $3 billion. According to sources familiar with the matter, the specific valuation was not disclosed. This round involved participation from existing investors, with no new shareholders introduced. Cross River Bank is focused primarily on serving fintech companies.