Nuo protocol founders raise $3 million to launch a new Ethereum-based banking platform

The founders behind Nuo, a lending protocol build on Ethereum, raised $3 million to build a new digital banking platform called Juno. The seed round was led by Polychain Capital and Sequoia Capital’s Surge program, with additional participation from Dragonfly Capital, ConsenSys Labs, Astarc Ventures, Singapore Angel Network and several angel investors, including Balaji Srinivasan. Juno's flagship product will enable users to earn a 5.5 percent annual interest rate on their $USDC stablecoin holdings. The new banking platform will also be built on top of Ethereum while relying on the Nuo lending protocol to generate interest returns.