Cedar Money, an Enabler of Cross-Border Transactions with Stablecoins, Announces Seed Round

Cedar Money, a payments company that enables cross-border money movement on stablecoins, announced a $9.9 million seed round led by QED Investors, with contributions from North Island Ventures, Wischoff Ventures, Lattice, and Stellar.

The proceeds from the investment round will enable Cedar Money to accelerate its mission of transforming “international money flows using payment infrastructure.”

Cedar Money’s platform 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.”

Cedar Money explained that it leverages stablecoins to deliver “cost-effective” cross-border payments between developed and emerging markets.

By integrating blockchain tech on the backend with a user-friendly interface, Cedar Money offers businesses a “compliant payment solution.”

Benjy Feinberg, CEO of Cedar Money said:

“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.”

Since its inception, Cedar Money’s tools have been impactful in regions where traditional payment systems are “cumbersome, costly or inaccessible.”

With its compliance-first approach, Cedar Money bridges the fiat and stablecoin worlds, ensuring “regulated money movement globally.”

The announcement comes at a time of various market opportunities for stablecoins.

Recent market activity and favorable sentiment around digital assets, driven in part by ongoing “regulatory clarity and support, underscore the timeliness of Cedar Money’s mission.”

As stated in the update, 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.”

Added QED Investors Partner Gbenga Ajayi:

“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.”

Founded in 2022, Cedar Money was created to transform the global payment landscape by enabling “modern approaches to international money flows.”

Leveraging stablecoins, Cedar Money explains that it “rewires outdated SWIFT and correspondent banking network rails with innovative infrastructure.”

By enabling money movement across geographies, Cedar Money bridges gaps between emerging and developed markets, “ensuring compliant and secure transactions for businesses worldwide.”

As mentioned in the announcement, QED Investors is a VC firm based in Alexandria, Va.

Founded by Nigel Morris and Frank Rotman in 2007, QED Investors is focused on investing in financial services companies.

QED Investors is dedicated to building businesses and uses a hands-on approach that leverages its partners’ experience, “helping companies achieve breakthrough growth.”

Investments reportedly include AvidXchange, Betterfly, Bitso, Caribou, ClearScore, Creditas, Credit Karma, Current, Flywire, Kavak, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly, SoFi, Wagestream and Wayflyer.



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