ChainCatcher News: Global payment company Riva Money has announced the completion of $3 million in seed funding, led by Project A, with participation from several individual investors from Revolut, Monzo, and J.P. Morgan.

Riva optimizes cross-border payment processes through blockchain technology and stablecoins, aiming to reduce costs, accelerate settlement, and provide better exchange rates. 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 advance its global compliance strategy.