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Blockchain startup Kinto completes US$5 million in financing and plans to launch Layer 2 network that complies with anti-money laundering laws

According to CoinDesk, blockchain startup Kinto announced that it has completed a $5 million financing this year, which will be used to develop an Ethereum Layer2 network based on OP Stack that complies with anti-money laundering laws. The network aims to connect financial institutions and real-world assets through DeFi.According to RootData, Kinto received $1.5 million in Pre-Seed financing from Kyber Capital Crypto earlier this year.Recently, Kinto completed another $3.5 million financing round, led by Kyber Capital Crypto, Spartan Group, and Parafi, with participation from SkyBridge Capital, Kraynos, Soft Holdings, Deep Ventures, Modular, Tane, and Robot Ventures.

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