Blockchain startup Kinto has completed a $5 million funding round and plans to launch a Layer 2 network compliant with anti-money laundering laws

ChainCatcher news, according to CoinDesk, blockchain startup Kinto announced that it has completed $5 million in funding this year to develop an Ethereum Layer 2 network compliant with anti-money laundering laws based on the OP Stack, aimed at connecting financial institutions and real-world assets through DeFi.

According to RootData, Kinto received $1.5 million in Pre-Seed funding from Kyber Capital Crypto earlier this year.

Recently, Kinto completed another $3.5 million in funding, led by Kyber Capital Crypto, Spartan Group, and Parafi, with participation from SkyBridge Capital, Kraynos, Soft Holdings, Deep Ventures, Modular, Tane, and Robot Ventures.