The vision for an autonomous clearing bank, purpose-built for programmable money and stablecoins, just got a major boost. Augustus, formerly Ivy, announced it has raised $180.0M in Series B capital from investors including Tiger Global, Ramp, Deel, and Circle.
Augustus aims to update the existing dollar clearing model, which it describes as broken due to legacy correspondents that are closed 115 days a year and take two days to settle. The company, which recently received OCC conditional approval to charter the first clearing bank for the AI era, is building a system that is always open, made for machines, and operates at the speed of compute.


















