According to Techub News, Fortune Crypto reported that the cryptocurrency lending platform Arch has completed a $5 million seed round of financing, co-led by Morgan Creek Digital and Castle Island Ventures, and Galaxy provided $70 million in debt financing. This round of financing 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 to revive the cryptocurrency lending industry that has been hit by the collapse of companies such as BlockFi and Genesis.