According to CoinMeta, Alta, a startup that develops blockchain infrastructure for banks and payment institutions, has completed a $47.5 million Series A financing round. The round was led by Index Ventures, with participation from GV, Blackbird Ventures, Square Peg, and Capital; the total financing amount reached $80 million. Alta is developing a blockchain with built-in privacy protection and compliance control features to meet the business needs of financial institutions. Payment company Airwallex has become one of its early partners, and the two parties plan to integrate Alta into Airwallex's global payment network to support stablecoin transfers and local fiat payments. The company's first product will use an instant fund allocation mechanism to reduce the funds that companies hold in pre-funded accounts and will allow idle funds to be allocated to tokenized assets that can generate returns. This financing round will be used for blockchain development, expanding partnerships with financial institutions, and hiring engineering and compliance personnel. The company has not disclosed its valuation.