Sean Neville Raises $18 Million to Build the First AI Native Bank

Sean Neville has long had a knack for identifying the next frontier in financial technology. More than a decade ago, at the height of the crypto boom, he co-founded Circle, a startup that would go on to become the world’s second-largest issuer of stablecoins, helping create the now-ubiquitous USDC. Today, Circle is on the verge of going public.

Now Neville is turning his focus to artificial intelligence. On Tuesday, Neville announced an $18 million seed round for his new venture, Catena Labs, which aims to build what he calls the world’s first “AI-native bank.” The round was led by Andreessen Horowitz’s crypto arm, with participation from Breyer Capital, Coinbase Ventures, Circle Ventures, CoinFund, and Pillar VC, alongside individual investors including NFL legend Tom Brady, Balaji Srinivasan, and Jim Breyer.

“There won’t be any humans or businesses that are executing financial transactions directly,” Neville predicted. “There will only be agents, only AIs in the future.”

Banking for the Agent Economy

Neville stepped down from his executive role at Circle in early 2020 but remained on the company’s board. After a year-long sabbatical spent researching developments in AI and identity infrastructure, Neville re-emerged convinced that the internet and by extension, the financial system was entering a new shift where AI agents become the primary participants in digital commerce.