Shield Raises $5M Seed to Revolutionize Crypto Payments for Global Trade
Crypto neo-bank Shield has secured a $5 million seed funding round, spearheaded by Giant Ventures and supported by a16z’s crypto accelerator, Coinbase, and Bank of America. This investment signals strong confidence in Shield’s vision to bridge the gap between the burgeoning world of cryptocurrency and traditional global trade, potentially streamlining international payments for businesses across the globe, including those in Africa.
Streamlining Cross-Border Transactions with Compliance
Since its pivot to payments in 2024, Shield has been focused on enabling exporters and importers to conduct cross-border transactions using U.S. cryptocurrencies. The platform goes beyond simply facilitating payments, offering crucial compliance tools to assist businesses in navigating the complexities of international regulations. This includes screening for sanctions risks and combating money-laundering threats, ensuring secure and compliant transactions. To date, Shield has processed over $100 million in payments, with an impressive $40 million handled in the last month alone, demonstrating significant traction and growing demand for its services.
With this new funding, Shield is poised to expand its reach and further develop its platform, potentially offering a more efficient and cost-effective alternative to traditional international payment methods. This could be particularly beneficial for businesses in Africa, where cross-border payments can often be slow and expensive. Shield’s innovative approach could unlock new opportunities for trade and economic growth on the continent by simplifying and securing international financial transactions.
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Related Keywords: Crypto payments, global trade, seed funding, Shield, 5M funding, cryptocurrency payments, blockchain payments, international trade finance, crypto for global trade, fintech
