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Universal Music is launching an AI music platform with ElevenLabs31m ago Now everyone can put data to work1h ago Robotics Startup Skild AI Hits $100 Million in Revenue Run Rate39m ago Is AI The Silver Bullet For Project Portfolio Management?39m ago An Anthropic researcher just quit, saying OpenAI and Anthropic are 'gambling with our lives'40m ago Cohere Debuts Open-Weight 218B Mixture-of-Experts Machine Translation Model42m ago Bending Spoons agrees to buy Miro for $1.355bn, weeks after Airtable46m ago Winmau And Autodarts Bring Smart Scoring To Your Dumb Dartboard46m ago Typewise orchestrates customer-service AI agents52m ago Zuckerberg tells Sources labs holding back AI models is ‘quite dangerous’1h ago Nintendo's latest sale is 'made possible' by the tariff refunds it's hoarding1h ago Meta Announces Muse AI Agent for Personal Tasks and Organization1h ago How To Secure The AI Features Hiding Inside Your Sanctioned SaaS Apps1h ago Instagram now lets you add tagged photos to your profile grid1h ago

Finance Dev3 min reading time

A 25-year-old just raised $180M to build a US bank from scratch

The Next WebPublished Jul 22, 2026

Augustus, led by 25-year-old Ferdinand Dabitz, raised $180M to build a US national bank aiming to provide direct US dollar access to foreign banks and fintechs, bypassing correspondent banking. The bank integrates traditional payment rails and stablecoins, using AI for 24/7 settlement, targeting regions with limited dollar access.

#augustus #correspondent-banking #ferdinand-dabitz #stablecoins #tiger-global

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