ZUG, Switzerland, Oct. 26, 2022 — The VQF-regulated global settlement banking platform that uses Web3 technologies has raised USD 13 million in a seed round led by Circle Ventures, Hard Yaka, United Overseas Bank Venture Management, Signum Capital, and Stellar Development Foundation.
Arf has raised USD 13 million in equity and debt financing in a seed round from notable Web3 and institutional finance investors, including Coinbase, Solana, FTX, and Kabbage.
The Stellar Development Foundation (SDF), United Overseas Bank (UOB) Venture Management, Signum Capital, Hard Yaka, NGC Ventures, Blockchain Founders Fund, and 500 Emerging Europe also participated in the round.
The funds will be used to further develop the company’s blockchain-based technology, which will provide global treasury management and working capital credit lines to financial institutions and licensed money service businesses operating in the cross-border payments industry.
CEO Ali Erhat Nalbant said:
“We are thrilled that prominent Web3 and institutional finance investors have validated our vision and joined forces with us. Arf’s technology is at the epicenter of the evolution of cross-border payments. This round of funding will allow us to scale Arf and free up trillions of dollars in locked working capital in the industry, “He continued. “We will continue to leverage digital assets and Web3 technologies to fuel the global finance transformation in a fully compliant manner.”
More about the company:
The seed funding will develop and foster new paradigm-shifting cross-border payment technologies by combining the best of what Web3 and traditional finance have to offer.
The Financial Services Standard Association recently approved Arf (VQF). The company established a new office in Zug and began expanding its workforce.
In April, Arf also announced the launch of the Arf Credit Line, which provides money service businesses with instant access to transactional working capital credit lines and enables any corridor to be post-funded in real-time.
Arf is a global settlement banking platform that eliminates the capital-intensive business model of the cross-border payments industry by providing licensed money service businesses and financial institutions with digital asset-based working capital and settlement services with native on-ramp and off-ramp capabilities.
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