UK economy defies forecasts with surprise 0.4% growth in July10m ago Sam Altman pitches US utilities on OpenAI’s Daybreak programme for grid defence36m ago AI cybersecurity is a cat and mouse game41m ago Sergey Brin is back at Google, working on Gemini51m ago Introducing ChatGPT for Financial Services56m ago CA governor signs 'landmark' laws on youth use of social media and AI chatbots1h ago 'I saw Terminator 2': Y Combinator's Garry Tan pushes back on AI extinction fears1h ago Cohere Debuts Open-Weight 218B Mixture-of-Experts Machine Translation Model1h ago Sakana AI Launches Fugu Max and Fugu Ultra v2 for Cheaper, Stronger Multi-Agent Orchestration2h ago Google Research Releases ToolGrad: Answer-First Framework Hits 99.8% Pass Rate for Tool-Use Data Generation2h ago China's star AI labs routed user requests to Claude at least 35 million times in the summer: Anthropic3h ago Anthropic and OpenAI employees speak out about humanity’s extinction as debate reaches fever pitch3h ago Force launches chatbot for non-emergency calls3h ago Tesla unveils driverless Cybercab in Japan for 1st time3h ago

UK economy defies forecasts with surprise 0.4% growth in July10m ago Sam Altman pitches US utilities on OpenAI’s Daybreak programme for grid defence36m ago AI cybersecurity is a cat and mouse game41m ago Sergey Brin is back at Google, working on Gemini51m ago Introducing ChatGPT for Financial Services56m ago CA governor signs 'landmark' laws on youth use of social media and AI chatbots1h ago 'I saw Terminator 2': Y Combinator's Garry Tan pushes back on AI extinction fears1h ago Cohere Debuts Open-Weight 218B Mixture-of-Experts Machine Translation Model1h ago Sakana AI Launches Fugu Max and Fugu Ultra v2 for Cheaper, Stronger Multi-Agent Orchestration2h ago Google Research Releases ToolGrad: Answer-First Framework Hits 99.8% Pass Rate for Tool-Use Data Generation2h ago China's star AI labs routed user requests to Claude at least 35 million times in the summer: Anthropic3h ago Anthropic and OpenAI employees speak out about humanity’s extinction as debate reaches fever pitch3h ago Force launches chatbot for non-emergency calls3h ago Tesla unveils driverless Cybercab in Japan for 1st time3h ago

Finance Dev3 min reading time

A 25-year-old just raised $180M to build a US bank from scratch

The Next WebPublished Jul 22, 2026

Augustus, led by 25-year-old Ferdinand Dabitz, raised $180M to build a US national bank aiming to provide direct US dollar access to foreign banks and fintechs, bypassing correspondent banking. The bank integrates traditional payment rails and stablecoins, using AI for 24/7 settlement, targeting regions with limited dollar access.

#augustus #correspondent-banking #ferdinand-dabitz #stablecoins #tiger-global

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