Mural raises $28M to link banks with agentic finance systems
VC & Fundraising ·
The payments infrastructure firm secured a $15M round backed by Tether and North Island Ventures as part of a $28M total raise aimed at connecting traditional banking rails to AI-driven finance.
Mural, a financial infrastructure platform, has raised $28M in total funding, including a $15M round led by Tether and North Island Ventures, according to a financing announcement covered by icoanalytics.orgFinancial. The company says the capital will go toward building infrastructure that connects banks to what it calls agentic finance, a category of systems where software agents initiate or manage financial transactions.
The deal places Mural within Tether's broader push beyond its core stablecoin business. USDT, Tether's flagship token, accounts for roughly 60% of the global stablecoin market and carries a market capitalization in the mid-$180 billion range, giving the company substantial reserves to deploy into adjacent ventures. Tether has organized itself into four divisions—Data, Finance, Power, and Edu—reflecting ambitions that extend into tokenized gold, U.S.-regulated stablecoins, bitcoin mining, and AI and robotics investments. A bank-facing payments bet like Mural fits within that Finance-division expansion, though the explainer material does not specify which division is leading the investment.
North Island Ventures' participation alongside Tether signals additional institutional interest in infrastructure meant to bridge legacy banking systems with automated, agent-driven transaction flows, a niche that remains largely undefined in regulatory terms. Tether's own interest in stablecoin-adjacent infrastructure has grown alongside other recent moves, including a $150M recovery plan and partnership with Drift intended to displace Circle's USDC in certain use cases, and the hiring of a JPMorgan executive to support its U.S. stablecoin expansion.
What remains unclear from available material is how Mural's $28M breaks down beyond the $15M Tether-backed tranche, which banks or institutions Mural intends to onboard first, and what technical standards will govern how autonomous agents interact with regulated banking rails. The broader context of Tether's reserves and governance continues to draw scrutiny; the IMF has flagged Tether's bitcoin reserves as a vulnerability and warned that stablecoins generally remain susceptible to runs, a backdrop that will likely shape how aggressively Tether-backed ventures like Mural can scale into bank partnerships. Further details on Mural's roadmap and Tether's precise equity stake have not yet been disclosed.