Odaily Planet Daily News Crypto lending platform Arch announced the completion of a $5 million seed round of financing, which was co-led by Morgan Creek Digital and Castle Island Ventures. At the same time, Galaxy provided it with $70 million in debt financing. The funds will be used to serve institutional clients and individual investors. Arch was founded in February 2022 by financial industry veterans Dhruv Patel and Himanshu Sahay, aiming to revive the crypto lending industry that has been hit by the collapse of companies such as BlockFi and Genesis. Arch co-founder Dhruv Patel said the company adopts a conservative strategy, only accepting Bitcoin, Ethereum and SOL as collateral, and does not re-mortgage, but instead custody collateral on behalf of customers through BitGo. Max Bareiss, vice president of Galaxy's lending department, revealed that it plans to securitize debt financing, allowing institutional investors to purchase through crypto-native entrances and trade in the secondary market. Arch currently has 5 full-time employees and plans to expand the team and launch other investment products later this year. (fortune)