CloudTech raises AUD $14 million to launch digital asset custody

CloudTech Group has secured AUD $14 million in a Series A funding round to support the expansion of its institutional-grade blockchain platform and the launch of a new digital asset custody business.

The fundraising round included AUD $11 million contributed in Bitcoin and USDT, reflecting a trend towards the use of digital assets for major capital investments in the sector. The remaining funds were raised in fiat currency. Six individual and institutional investors participated in the round, which is among the largest crypto-denominated capital raises recorded in Australia to date.

Custody focus

The new capital will primarily drive the rollout of CloudTech Custody. This service is designed as an institutional-grade custody solution for safeguarding digital assets, aimed at addressing the needs of professional investors, digital-native businesses and financial institutions that are increasingly active in the decentralised economy.

"This raise marks a major step forward in delivering core infrastructure for the digital asset economy," said Mandy Jiang, Chief Financial Officer & Executive Director, CloudTech Group. "Custody is critical for institutions entering this space, and we're building a solution that combines blockchain's strengths with the standards and safeguards expected in traditional finance."

Jiang emphasised the significance of blockchain-based custody to the broader adoption of digital assets by institutions. According to Jiang, "Blockchain-based custody is essential to the institutionalisation of digital assets. As crypto evolves, so does the need for secure, accessible asset storage. Our custody solution removes the technical burden of self-custody while giving users full control. Managing digital assets has never been simpler or safer."

The CloudTech Custody platform will incorporate segregated wallets, end-to-end encryption, and transparent reporting mechanisms. These features are aimed at providing institutional clients with a secure and transparent environment for holding and administrating their digital assets.

Leadership and experience

CloudTech Group's leadership comes from senior roles across global banks, asset managers, and infrastructure providers. The team collectively has experience across financial regulation, risk management, and payments, which supports the company's aim to deliver trusted and compliant financial infrastructure.

Expanding on the integration of traditional financial principles, Jiang said, "We're applying the disciplines of traditional finance to the blockchain space, not just in technology, but in governance, transparency and control. Our ecosystem is designed to meet the needs of institutions looking for more than just access — they're looking for infrastructure they can trust."

Broader platform services

Founded in 2021, CloudTech Group offers a suite of services beyond its forthcoming custody platform. Current offerings include over the counter (OTC) trading, stablecoin solutions, and the CobWeb Pay platform, which enables the bridging of fiat and digital payments for businesses. CobWeb Pay supports real-time conversion and merchant integration, while CloudTech's stablecoin solutions provide infrastructure for businesses seeking to settle on-chain transactions efficiently.

The company's national team of more than 40 professionals is focused on combining blockchain technology with the familiarity and regulatory requirements of traditional finance. CloudTech is continuing to develop its platform tailored for institutional demands, addressing the operational, compliance, and risk needs of its clients.

Market context

The structure of the Series A round, with a significant portion raised in Bitcoin and USDT, signals growing acceptance of digital assets as both investment and funding tools within Australia's financial landscape. As institutional involvement in digital assets grows, the need for secure custody, transparent operations, and compliant infrastructure is a central focus for service providers in this sector.

CloudTech's expansion into digital asset custody is positioned as part of a broader move among fintech firms to fill growing demand from institutions navigating both digital and traditional financial systems.