Cedar Money Secures $9.9M Seed Round Led by QED Investors for Cross-Border Stablecoin Payments
Cedar Money, a company focused on facilitating seamless cross-border payments using stablecoins, has raised $9.9 million in a seed funding round. Led by QED Investors, the round also saw participation from North Island Ventures, Wischoff Ventures, Lattice, and Stellar. The funding will enable Cedar Money to advance its mission of revolutionizing international money transfers through cutting-edge payment technology.
Cedar Money aims to overcome the inefficiencies of the traditional correspondent banking network, which has been in place since the 1970s. This outdated system often results in slow, costly, and complex payment processes, creating significant barriers for businesses. Cedar Money leverages stablecoins to provide faster, more reliable, and cost-effective cross-border payments, particularly between developed and emerging markets.
By integrating blockchain technology with a user-friendly, fiat-based interface, Cedar Money offers businesses a seamless and compliant payment solution that simplifies global transactions. Unlike traditional banking systems that are plagued by delays and high fees, Cedar Money’s platform provides an alternative that enables businesses to move money across borders efficiently.
Benjy Feinberg, CEO of Cedar Money, highlighted the importance of innovative payment solutions in today’s global economy. “The funding underscores the urgency for innovative payment solutions in a world where businesses face significant barriers in moving money across borders,” Feinberg said. “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 has seen its tools provide significant benefits, particularly in regions where traditional payment systems are either expensive, slow, or simply inaccessible. The company’s compliance-first approach ensures that transactions are secure and regulated, bridging the gap between the fiat world and the emerging world of stablecoins.
The announcement of this funding comes at a time when the stablecoin market is gaining significant traction. Positive developments in the digital assets sector, coupled with increasing regulatory clarity, are creating a favorable environment for companies like Cedar Money. Recent shifts in global financial policies, including those influenced by the results of the U.S. presidential election, have highlighted the growing importance of digital currencies in the international financial landscape. This increasing demand for efficient and compliant payment solutions is further validating Cedar Money’s vision.
Cedar Money’s platform is poised to capitalize on this momentum. The company’s use of stablecoin technology has the potential to transform the way cross-border payments are handled, offering an alternative to outdated systems like SWIFT and correspondent banking. Stablecoins provide the ability to transfer value in a secure, fast, and low-cost manner, which is particularly beneficial for businesses operating in emerging markets. This, in turn, can contribute to fostering greater financial inclusion by making global payments more accessible.
“Cedar Money’s approach aligns perfectly with the positive momentum in the digital asset ecosystem, as businesses and governments alike recognize the transformative potential of stablecoins in enhancing cross-border money flows,” Feinberg added.
QED Investors Partner Gbenga Ajayi also expressed excitement about Cedar Money’s potential to disrupt the global financial system. “Cedar Money’s innovative platform is not just transforming cross-border payments, it’s creating a new paradigm in global finance,” said Ajayi. “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.”
The Money was founded in 2022 with the goal of reshaping the global payment landscape. The company’s mission is to create modern solutions for international money flows by utilizing stablecoins to reimagine the infrastructure of outdated financial networks. Through its platform, Cedar Money enables businesses to easily move money across borders while ensuring compliance and security. The company’s work is particularly impactful in bridging the gap between emerging and developed markets, where access to fast, affordable payments is often limited.
The $9.9 million in funding will help the Money continue to scale its platform, making it easier for businesses worldwide to engage in cross-border transactions without the burden of high fees, slow speeds, or complex processes. The company plans to further develop its stablecoin-based payment solutions and expand its global reach, making international money movement more efficient and accessible for businesses of all sizes.
