Quick take:
- NGC Ventures, Blockchain Founders Fund, and 500 Emerging Europe participated in the round.
- Arf plans to use the funds to develop its blockchain-based technology to provide global treasury management.
- Arf recently received the approval of the Financial Services Standard Association (VQF) in Switzerland.
Arf, a Web3 global settlement banking platform, today announced that it has raised $13 million in equity and debt financing in a seed round.
Industry leaders including Circle Ventures, Hard Yaka, United Overseas Bank Venture Management, Signum Capital, and Stellar Development Foundation, NGC Ventures, Blockchain Founders Fund, and 500 Emerging Europe participated in the round.
The firm plans to use the fresh cash injection to further develop its blockchain-based technology to provide global treasury management and working capital credit lines for financial institutions and licensed money service businesses alike operating in the cross-border payments industry.
Arf offers digital asset-based working capital and settlement services with native on-ramp and off-ramp capabilities to licensed money service businesses and financial institutions.
“Arf’s technology sits right at the center of cross-border payments evolution. This funding round will help us scale Arf to free up trillion dollars worth of locked working capital in the industry,” said CEO Ali Erhat Nalbant. “We’ll keep leveraging digital assets and Web3 technologies to fuel the transformation in global finance in a fully compliant way.”
Arf recently received the approval of the Financial Services Standard Association (VQF) in Switzerland. The firm has opened a new office in Zug and started scaling its team.
In April, the banking platform announced the launch of Arf Credit Line, which provides money service businesses instant access to transactional working capital credit lines, and allows any corridor to be post-funded in real-time.
Other Web3 banking platforms and financial institutions based in Switzerland include SEBA, which today launched its regulated custody solution for NFTs, and Sygnum, which recently opened a metaverse hub in Decentraland and partnered with Thai media giant T&B Global $300 million hybrid equity-NFT round. Both SEBA and Sygnum collectively raised $200 million in funding in January.
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