Cedar Money – a payments company that enables seamless cross-border money movement on stablecoins – announced a $9.9 million seed round led by QED Investors, with participation from North Island Ventures, Wischoff Ventures, Lattice, and Stellar. This funding will enable Cedar Money to accelerate its mission of transforming international money flows using cutting-edge payment infrastructure.
Cedar Money’s platform also addresses the challenges of the correspondent banking network, a system dating back to the 1970s that has resulted in slow, expensive and complex processes, creating barriers for businesses. And Cedar Money utilizes stablecoins to deliver faster, more reliable and cost-effective cross-border payments between developed and emerging markets.
Cedar Money offers businesses a seamless and compliant payment solution by integrating blockchain technology on the backend with a user-friendly and familiar fiat-based interface.
Since its founding, Cedar Money’s tools have proven particularly impactful in regions where traditional payment systems are cumbersome, costly or inaccessible. And with its compliance-first approach, Cedar Money bridges the fiat and stablecoin worlds, ensuring secure and regulated money movement globally.
This funding comes at a time of major market opportunities for stablecoins. And recent market activity and favorable sentiment over digital assets – driven in part by ongoing regulatory clarity – validates the timeliness of Cedar Money’s mission. Plus, the results of the U.S. presidential election have spotlighted the increasing importance of digital currencies in the global financial dialogue, amplifying the demand for efficient and compliant payment solutions.
KEY QUOTES:
“The funding underscores the urgency for innovative payment solutions in a world where businesses face significant barriers in moving money across borders. We’re proud to partner with forward-thinking investors like QED who share our vision of creating a truly global and inclusive financial ecosystem.”
“Cedar Money’s approach aligns perfectly with the positive momentum in the digital asset ecosystem, as businesses and governments alike recognize the transformative potential of stablecoins in enhancing cross-border money flows.”
– Benjy Feinberg, CEO of Cedar Money
“Cedar Money’s innovative platform is not just transforming cross-border payments, it’s creating a new paradigm in global finance. By leveraging stablecoin technology while maintaining a fully compliant and fiat-aligned user experience, Cedar Money is uniquely positioned to tackle the inefficiencies of the global financial system. We’re thrilled to support their journey.”
– QED Investors Partner Gbenga Ajayi
