Juno, a startup that provides checking accounts to crypto enthusiasts and allows them to take their paychecks in digital tokens, has raised a new funding round as it expands its offerings to include a tokenized loyalty program.

The one-and-a-half-year old startup has amassed over 75,000 customers in the U.S. who take their salaries (some in entirety, rest in portions) in crypto and invest consistently in digital assets each month.

Customers are able to spend their crypto or cash using the startup’s Mastercard-powered debit card, make bill payments and easily move funds to and from traditional banks if they so desire. Juno also offers direct onramps to customers from a checking account to layer 2 blockchains such as Polygon, Arbitrum, and Optimism for zero fees.

The eponymous platform integrates with all popular payroll platforms in the U.S., making it easier for customers who are long term believers in crypto to keep doubling down on their bets without having to worry about manually moving funds to different exchanges. It also offers customers automated tax reporting through form 1099, freeing them from having to manually sift through their transactions and calculate gains.

On Saturday, Juno announced it has raised $18 million in a Series A financing round. The funding was led by ParaFi Capital’s Growth Fund and saw participation from scores of backers including Greycroft, Antler Global, Hashed, Jump Crypto, Mithril, 6th Man Ventures, Abstract Ventures and Uncorrelated Fund.

Juno – which also counts Sequoia India’s Surge, Dragonfly Capital, Polychain Capital, Consensys Ventures, Balaji Srinivasan, Surojit Chatterjee, Sandeep Nailwal and Ryan Selkis among its backers – has reached $1 billion in annualized transaction volume processing, Varun Deshpande, co-founder and chief executive of Juno, said in an interview.

"Crypto natives in the US are finding existing banks completely inadequate for everyday use of crypto. We are rebuilding a checking account from the ground up with crypto and web3 at its core. Juno empowers members to earn part of their paycheck in crypto and use crypto for everyday transactions like bill payments or buying coffee," he said.