Centi is announcing the successful completion of its seed financing round led by Archblock and Bloomhaus Ventures with continued investments from existing shareholders and founders.
Recognized for its proficiency in processing transactions as small as a cent, Centi claims that it is now poised “for the global expansion of its blockchain-based micropayment solutions and an increased footprint in promoting financial inclusion.”
The funds secured in this financing round will fuel Centi’s mission to streamline digital transactions on a global scale.
Archblock and Bloomhaus Ventures have not only invested in Centi but have “become steadfast champions of its vision.”
Bernhard Müller, Co-Founder of Centi, said:
“We founded Centi driven by the potential of blockchain for micropayments and financial inclusion. The name ‘Centi’ itself, derived from our capability to process transactions as small as one cent, encapsulates this focus. The success of our financing round is a testament to being on the right trajectory and receiving support for our mission to revolutionize current payment processes with the Centi stablecoin.”
Centi is redefining the payment industry by “introducing real-world applications of blockchain technology, specifically addressing two of its most significant shortcomings: the inefficiency of micropayments and the lack of financial inclusion.”
Through its proprietary stablecoin technology, Centi not “only achieves compatibility with existing payment infrastructures but also pioneers innovative solutions in these critical areas.”
Micropayments (B2B): Centi confronts the inefficiency in “processing micropayments, enabling transactions as minimal as a cent, and unlocking new opportunities for digital content monetization.”
Financial Inclusion (B2C): Centi offers a direct-to-consumer stablecoin “that can be purchased with physical cash, providing a crucial gateway for the unbanked into the world of digital payments and credit cards.”
Centi’s approach demonstrates the practical and transformative impact of blockchain technology, moving “beyond theoretical possibilities to deliver applications that enhance and complement the existing payment landscape.”
As noted in the update, Centi leverages blockchain technology to “provide innovative, accessible, and efficient financial solutions.”
Centi focuses on micropayments and financial inclusivity and directly addresses the shortcomings of the current financial system, “establishing Centi as pioneers in the practical application of blockchain technology.”