Crypto digital banking firm Juno has raised $18 million in a Series A funding round led by ParaFi Capital’s Growth Fund. The new capital will be used to expand products and operations, and launch its first tokenized loyalty program.
The round saw additional participation from the following individuals Coinbase (Surojit Chatterjee), Messari (Ryan Selkis), Polygon (Sandeep Nailwal), and a16z (Sriram Krishnan).
Juno is a digital banking platform that encourages users to spend crypto on their everyday transactions. Its flagship product is the Juno card, where users can transact with Circle’s stablecoin $USDC.
As part of the fundraising, Juno is introducing a loyalty token, Juno coin ($JCOIN), which will only be distributed to verified account holders. The loyalty program will be similar to traditional credit card rewards points. Juno members can earn $JCOIN for taking their paychecks in crypto, or spending crypto with their Juno debit card.
