The blockchain payment company Riva has completed a $3 million financing round, led by Project A

According to reports, global payment company Riva Money has announced the completion of a $3 million seed round, led by Project A, with individual investors from Revolut, Monzo, and J.P. Morgan participating in the investment. Riva leverages blockchain technology and stablecoins to optimize the cross-border payment process, addressing the high costs and slow settlement issues in existing systems, and providing better exchange rate options. The company was co-founded by former Revolut and Wise executives Niklas Hoejman and Mahendra Katoch, and is applying for UK and EU payment institution licenses as well as MICA and VASP licenses to drive global regulatory expansion.