CULedger raises $10m for DLT-based digital ID system

CULedger raises $10m for DLT-based digital ID system

CULedger, a consortium of American credit unions exploring potential use cases for distributed ledger technology, has hit its $10 million Series A funding round target.

The investment, most of which came from credit unions, will be used to further develop CULedger's MyCUID tool, which uses a P2P network of distributed, private agents working in parallel with the distributed ledger to give credit union members a lifetime portable digital identity.

Julie Esser, chief experience officer, CULedger, says: "We are grateful the credit union community recognizes the importance of self-sovereign identification and the innovative future of the digital experience."

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