The Arf project, established for the development of cross-border payments, had recently organized a seed funding round. The platform announced that it has raised $ 13 million in this seed round. The seed round financing, which took place with the participation of industry leaders, included investors such as Circle Ventures, Hard Yaka, United Overseas Bank Venture Management, Signum Capital and Stellar Development Foundation, as well as Coinbase, Solana, FTX and Kabbage.
The firm, which has raised a total of $13 million in equity and debt, will use this fund to further its blockchain-based technology to provide lines of credit such as global treasury management and working capital for financial institutions and licensed money services operating in the cross-border payments industry.
Ali Erhan Nalbant, CEO of Arf said in a statement: “We are delighted to see prominent Web3 and institutional finance investors validate our vision and join forces with us. Arf’s technology sits right at the centre 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. We’ll keep leveraging digital assets and Web3 technologies to fuel the transformation in global finance in a fully compliant way.”
The company has recently received the approval of the Financial Services Standard Association and has started to expand its team by opening a new office in Zug. With the seed round, they will combine the best that Web3 and traditional finance already have to offer and develop breakthrough technologies in cross-border pay systems.
In addition to all these developments, the company also announced the April launch of Arf Credit Line, which provides instant access to money service businesses and transactional working capital credit lines.
Arf provides a global network for financial institutions that arrange instant and fully compliant cross-border agreements, payments and settlements by leveraging stablecoins. Arf’s infrastructure connects to BaaS, KYC/AML providers, and technology providers to provide instant cross-border pay features to businesses, e-wallets, neobanks, and remittance companies.