Cedar Cash Raises $9.9 Million Seed Spherical Led by QED Traders to Facilitate Cross-border Stablecoin Funds
- Fee’s options leverage trendy {financial} infrastructure to streamline and modernize cash flows between rising and developed markets.
Cedar Cash, a funds firm that permits seamless cross-border cash motion on stablecoins, introduced at this time a $9.9 million seed spherical led by QED Traders, with participation from North Island Ventures, Wischoff Ventures, Lattice, and Stellar.
The funding will allow Cedar Cash to speed up its core utility of offering fee providers completely for companies whereas advancing worldwide cash flows utilizing cutting-edge fee infrastructure.
Cedar Cash’s platform addresses the peculiar problem distinctive to the normal banking community, a near-obsolete system marred with sluggish, costly, and sophisticated processes that create enterprise limitations.
Cedar Cash achieves this by leveraging stablecoins to ship quicker, extra dependable, and cost-effective cross-border funds between developed and rising markets.
Distinctive Provide
Cedar Cash depends on its superior, dependable, and handy service to navigate the saturated fintech market, carving its area of interest within the course of.
Benjy Feinberg, CEO of Cedar Cash, highlighted the significance of constructing belief and providing an elite consumer expertise to shoppers as a viable market differentiation technique.
By integrating blockchain know-how on the backend with a user-friendly, acquainted fiat-based interface, Cedar Cash provides companies a seamless and compliant fee answer.
“The funding underscores the urgency for progressive fee options in a world the place companies face vital limitations in transferring cash throughout borders,” mentioned Benjy “We’re proud to companion with forward-thinking traders like QED who share our imaginative and prescient of making a very world and inclusive {financial} ecosystem.”
Since its inception in 2022, Cedar Cash’s instruments have confirmed significantly impactful in areas the place conventional fee techniques are cumbersome, expensive, or inaccessible.
The Platform maintains a compliance-first strategy, bridging the fiat and stablecoin worlds whereas making certain the safe and controlled motion of funds world wide.
Timing
The announcement comes at a time of burgeoning market alternatives for stablecoins.
- Chainalysis 2024 report revealed that Stablecoins have develop into the predominant asset kind in some components of the world, accounting for 60–80% of the market share in service provider providers every quarter. This pattern is pushed by companies using stablecoins for varied fee use circumstances, enhancing transaction effectivity and stability.
- Moreover, the outcomes of the U.S. presidential election have spotlighted the growing significance of digital currencies within the world {financial} dialogue, amplifying the demand for environment friendly and compliant fee options.
“Cedar Cash’s strategy aligns completely with the constructive momentum within the digital asset ecosystem, as companies and governments alike acknowledge the transformative potential of stablecoins in enhancing cross-border cash flows,” Feinberg added.
- QED Traders Associate Gbenga Ajayi reacted to the announcement highlighting Cedar Cash’s important function in World finance.
“Cedar Cash’s progressive platform is not only reworking cross-border funds, it’s creating a brand new paradigm in world finance. By leveraging stablecoin know-how whereas sustaining a totally compliant and fiat-aligned consumer expertise, Cedar Cash is uniquely positioned to deal with the inefficiencies of the worldwide {financial} system. We’re thrilled to help their journey.”
About Cedar Cash
Based in 2022, Cedar Cash was created to remodel the worldwide fee panorama by pioneering trendy approaches to worldwide cash flows. Leveraging stablecoins, Cedar Cash rewires outdated SWIFT and correspondent banking community rails with progressive infrastructure.
By enabling seamless and environment friendly cash motion throughout geographies, Cedar Cash bridges gaps between rising and developed markets, making certain compliant and safe transactions for companies worldwide.
For extra particulars go to https://www.cedar.cash/us
About QED Traders
QED Traders is a world main enterprise capital agency primarily based in Alexandria, Va. Based by Nigel Morris and Frank Rotman in 2007, QED Traders is concentrated on investing in disruptive {financial} providers corporations worldwide.
QED Traders is devoted to constructing nice companies and makes use of a singular, hands-on strategy that leverages its companions’ a long time of entrepreneurial and operational expertise, serving to corporations obtain breakthrough development.
Notable investments embrace AvidXchange, Butterfly, Bitso, Caribou, ClearScore, Creditas, Credit score Karma, Present, Flywire, Kavak, Klarna, Konfio, Loft, Mission Lane, Nubank, QuintoAndar, Remitly, SoFi, Wagestream and Wayflyer.
Be taught extra at www.qedinvestors.com.
Media Contact: Titilayo Oluwatosin
Director of Advertising and Communications: Cedar Cash