Riva Money has just completed a $3 million seed funding round to enhance its international payment solutions through blockchain and stablecoin applications.
The company focuses on optimizing the cross-border money transfer process, reducing costs, and shortening payment times compared to traditional systems, while also improving exchange rates for customers.
MAIN CONTENT
Riva Money raised $3 million from Project A and top individual financial investors.
Applying blockchain and stablecoin technology to improve cross-border payments.
Currently applying for payment licenses in the UK, EU, along with MICA and VASP licenses.
What is Riva Money and how much funding has it received?
Riva Money is a global company specializing in payment solutions, having just completed a seed funding round of $3 million, led by Project A with the participation of individual investors from Revolut, Monzo, and JP Morgan.
The company was founded by Niklas Hoejman and Mahendra Katoch – former leaders of Revolut and Wise, aiming to develop more efficient international money transfer solutions based on cryptocurrency and blockchain technology.
What are the benefits of Riva using blockchain and stablecoin in international payments?
Using blockchain and stablecoin helps optimize costs, processing time for cross-border transactions, and provides more flexible exchange rates compared to traditional systems.
Blockchain provides transparency and security for transactions, while stablecoin maintains stable value, avoiding the volatility often seen in other cryptocurrencies, helping customers feel more secure when transferring money internationally.
"The application of blockchain and stablecoin technology is a direction that makes cross-border payments faster, cheaper, and more transparent."
Riva Money representative, 2024
What legal steps is Riva Money taking to expand its operations?
Riva Money is in the process of applying for payment licenses in the UK and the European Union, with procedures to obtain MICA and VASP approvals – crucial certifications to operate legally in the cryptocurrency and electronic finance fields.
This move helps Riva establish a solid legal foundation to expand its services globally and strictly comply with regulatory requirements, ensuring credibility and safety for users.
Frequently Asked Questions
What industry is Riva Money in?
Riva Money provides international payment solutions using blockchain and stablecoin, helping to reduce costs and processing time for cross-border transactions.
Who is the main investor of Riva Money in the latest funding round?
The $3 million seed round is led by Project A, with participation from individual investors from Revolut, Monzo, and JP Morgan.
What licenses is Riva Money applying for?
The company is applying for payment operation licenses in the UK, EU, and MICA licenses with VASP to legalize cryptocurrency services.
What are the standout benefits of using stablecoin in Riva's payments?
Stablecoin helps maintain stable value, reduce volatility risk, while optimizing costs and processing transactions faster.
What notable experience do the founders of Riva Money have?
The two founders are former leaders from Revolut and Wise, with extensive experience in the fields of electronic finance and international payments.
Source: https://tintucbitcoin.com/riva-goi-von-3-trieu-usd-seed/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!