Layer 1 blockchain Alta raises $47.5 million in Series A funding.

Alta, a Layer 1 blockchain targeting banks and large financial institutions, has raised $47.5 million in Series A funding, led by Index Ventures, with participation from GV, Blackbird Ventures, Square Peg, and Capital49. Alta had previously raised $32.5 million in seed funding, with Airwallex as the lead investor. (Source: Fortune) Alta offers pluggable compliance layers and privacy tools to help financial institutions process on-chain transactions according to the requirements of different jurisdictions. Airwallex is promoting Alta to its global clients for processing cryptocurrency transactions.