Web3 promoter Fiat Republic raises $7 million in seed round, with participation from Kraken Ventures

Fiat Republic, a web3 advocate for encryption platforms, has raised $7 million in a delayed seed funding round. This round of financing received Kraken Ventures' first investment (supporting Shield and Rally), Fabric Ventures, Arca, Inovo.vc, and Pretiosum Ventures, as well as existing investors Speedinvest, Credo Ventures, and Seedcamp.This funding will drive its development and expansion, as well as key initiatives such as strategic recruitment, strengthening bank partnerships, and expanding into new areas.It is reported that Fiat Republic is building a cryptocurrency platform alliance to gain strong representation in regulatory agencies, lead the development of asset class standards, and change the traditional financial institutions' perspectives.