Circle's joint venture Catena Labs has completed a $18 million seed round financing, led by a16z

ChainCatcher news, according to Fortune, AI-native financial startup Catena Labs, founded by Circle co-founder Sean Neville, has completed a $18 million seed round financing, led by Andreessen Horowitz's crypto division, with participation from Breyer Capital, Circle Ventures, Coinbase Ventures, and American football player Tom Brady.

Catena Labs plans to create an "AI-native bank." Investors will receive equity and the right to subscribe to tokens of unissued cryptocurrencies. Sean Neville stated that the company currently has no plans to issue cryptocurrencies or stablecoins.

Catena Labs has developed an open-source protocol for AI payments and identity verification. The company will integrate, but not be limited to, stablecoin technology, aiming to update existing financial infrastructure to accommodate future financial transaction scenarios dominated by AI agents.