Kontigo Raises $20M to Build Decentralized Banking Platform

For many crypto-enthusiasts the biggest pain point for years has been the inability to use cryptocurrency as...currency.

US-based decentralized banking platform Kontigo has closed a $20 million seed round to expand its products and scale global adoption of crypto-native financial services. The company is focusing on building a stablecoin-centric banking stack that blends elements of traditional finance with blockchain infrastructure.

The round drew participation from a mix of institutional and strategic investors, including names from Y Combinator and established venture firms. Kontigo participated in Y Combinator’s Summer 2024 cohort, gaining early access to capital and network support.

Kontigo has grown rapidly in the past year. It reports crossing $30 million in annual revenue, processing more than $1 billion in payment volume, and serving over one million users with a small engineering team.

The company’s product suite targets users and businesses in markets where traditional banking is expensive, slow, or limited. Kontigo users can:

• Earn yield on digital dollars held in USDC.
• Use a stablecoin-linked card that offers rewards like Bitcoin cashback.
• Activate credit lines denominated in stablecoins.
• Invest in tokenized U.S. equities.
• Open and manage international accounts without local banking friction.

Kontigo’s platform runs core components on blockchain infrastructure, which co-founders argue lowers operational costs and removes regional banking license restrictions that slow down global services at traditional challengers.

By building on stablecoins like USDC, Kontigo aims to make digital dollars and crypto-linked financial services accessible without requiring technical knowledge about cryptocurrencies. Its positioning emphasizes practical everyday usage like sending money cross-border, holding savings free of local inflation, and accessing financial tools typically offered only by licensed banks.

The $20 million will be used to accelerate product development, expand into new regions, and grow its engineering and operations teams. With clear traction and early revenue metrics, Kontigo is positioning itself as a contender in the next generation of financial infrastructure that sits between regulated banks and decentralized finance.

As personal note, I got my first bitcoin back in 2019 and have been involved in the crypto scene since. Today is the first day I used crypto in the physical world to make a purchase. I bought a water bottle.