Crypto-banking firm Juno lands $18M Series A and launches loyalty token

Singapore-based crypto banking firm Juno raised $18 million in a Series A funding round and launched a loyalty token, JCOIN.

Juno lands $18 million in Series A

The company will use the latest funding to expand and grow its product line and operations, CoinDesk reports and support the launch of its loyalty token, Juno coin (JCOIN), available to verified account holders.

The JCOIN token loyalty program is designed to incentivize those who are already open to using crypto and will act much the same as a credit card rewards program, the company says.

The Series A funding round, which was led by ParaFi Capital’s growth fund, saw participation from high profile angel investors, including Coinbase chief product officer (CPO) Surojit Chatterjee, Ryan Selkis of Messari, Sandeep Nailwal and Jaynti Kanani of Polygon, and Sriram Krishnan of a16z.

The seed backer included former Coinbase Chief Technology Officer (CTO) Balaji Srinivasan and FTX’s Venu Palaparthi.

Talk to corner desk, Juno CEO and Co-Founder Varun Deshpande says, “Earning and using crypto are essential financial primitives to creating and growing a circular crypto economy. Our tokenized loyalty program is intended to further accelerate the growth of this crypto-economy.