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New AI Bank: Sean Neville, Co-founder of Circle, Raises $18 Million

  • Catena Labs, co-founded by Sean Neville of Circle, has raised $18 million to establish a new AI bank.
  • The AI bank aims to cater to the growing AI agent economy, focusing on utilizing stablecoins like USDC for efficient and cost-effective transactions.
  • The firm plans to have AI workers handle various tasks within the financial institution, with human supervision for risk management and compliance.
  • Top investors in Catena Labs' funding round include Andreessen Horowitz, Coinbase Ventures, Tom Brady, Breyer Capital, and Circle Ventures.

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