Cross River Bank raises $50M for AI and crypto expansion

U.S. bank Cross River Bank has secured $50 million in a new funding round, Bloomberg reported. The bank plans to use the capital to expand its artificial intelligence (AI) and cryptocurrency operations. The round was led by a fund managed by T. Rowe Price. Cross River Bank has been expanding its presence in the crypto sector, participating in initiatives such as integrating Solana (SOL)-based infrastructure and joining Visa's USDC stablecoin settlement pilot.