UK bank Griffin raises $20m to expand stablecoin services

The round

Griffin, a British bank, has raised $20 million in a Series B funding round led by Octagon Partners, ForkLog reported on 12 November 2026. The company's valuation passed $100 million in the round, according to the report.

The bank said the money will go toward services for managing stablecoin reserves, cross-border blockchain payments and the issuing of bank cards. ForkLog did not give a timetable for the rollout or say how the funds would be split between the three areas.

What Griffin does

Griffin received a full UK banking licence in 2024. It serves more than 80 companies, including Uber, and processes roughly 10 million payments a year, according to ForkLog.

The bank's role as a licensed institution puts it among a small group of UK banks that combine deposit-taking with blockchain payment services. The report does not say which stablecoins Griffin's reserve management would cover, or whether the cross-border service is already live.

What is still open

Neither Griffin nor Octagon Partners was quoted on the terms of the round beyond the valuation figure. ForkLog did not report the size of Octagon's stake or the names of other investors in the round.