A16z-backed Lead Bank adds Loop Crypto to inner circle with eye on scaling stablecoins and payments

Loop Crypto announced a partnership with Lead Bank, a community bank pivoting towards fintech and crypto, to scale its stablecoin and crypto payments operations. Loop Crypto's CEO, Eleni Steinman, stated the collaboration aims to unlock greater impact and reach for technology that can improve the financial system's speed and security. Lead Bank, acquired in 2022 by executives led by Jackie Reses and backed by investors including a16z, recently raised $70 million. This partnership will integrate Loop Crypto's stablecoin processing power with Lead Bank's existing infrastructure and traditional ties, building on Lead Bank's prior involvement as a financial partner in initiatives like the Visa and Stripe stablecoin card collaboration.

(Source：The Block)