Alta, a Layer 1 blockchain for banks and large financial institutions, has raised $47.5 million in a Series A round led by Index Ventures. According to Foresight News, Fortune reported that GV (Google Ventures), Blackbird Ventures, Square Peg and Capital49 also participated. Alta did not disclose its valuation. The company previously raised $32.5 million in a seed round, with Airwallex as a major investor.

Alta offers a compliance layer and privacy tools that help financial institutions process on-chain transactions according to the requirements of different jurisdictions. Airwallex is promoting Alta to its global customers for handling cryptocurrency transactions.