Singapore-headquartered digital banking company Juno has secured $18 M in a Series A funding stage to offer clients more products and services. Juno also plans to issue its first tokenized loyalty program along with the JCOIN cryptocurrency.
The round was led by the investment firm ParaFi Capital’s Growth Fund. Among other participants were Coinbase Chief Product Officer Surojit Chatterjee, Messari's Ryan Selkis, Polygon's Sandeep Nailwal and Jaynti Kanani, and Andreessen Horowitz's Sriram Krishnan.
The platform's main product is the Juno card which allows making everyday purchases in cash or in Circle’s stablecoin USDC. Juno offers checking accounts to the US residents to enable them to earn, invest, and spend cryptocurrencies.
Juno will allocate its ERC20 token JCOIN to verified users as a reward for being active on the platform. JCOIN owners will be able to shop products with partners, including Ledger, a crypto hardware wallet producer.
In a blog post, Juno says that the program is community-first. It’s on-chain, and all the tokens will be allocated to customers.