Merge gets USD 9.5 mln to enhance Web3 economy by bringing banking and payments infrastructure

Monday 30 May 2022 12:01 CET | News

Startup Merge has raised USD 9.5 million in seed funding round led by Octopus Ventures, and with the participation of Coinbase Ventures and Ethereal Ventures, and angel investors among others.

Merge was founded by a former PayPal executive and aims to provide banking and payment infrastructure for Web3 companies and bridge the gap between fiat and crypto ecosystems. 

According to research conducted by Grayscale, the Web3 economy is estimated at a USD 1 trillion market opportunity, yet crypto businesses continue to be considered high risk by tier-1 banks. They are also underserved by digital payment providers and lack a range of products and services that other payment methods benefit from.  

Merge’s solution to the problem is to provide a seamless way for crypto and Web3 companies to hold and transfer fiat funds, convert between fiat and cryptocurrencies, and handle compliance through easily integrated APIs. Ultimately, Merge wants to offer a safe haven for crypto businesses to operate without fear of shutdown by regulators or third-party risk teams.

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Keywords: Web 3.0, funding, startup, cryptocurrency, cryptocurrency exchange, crypto, crypto asset, cash, API
Categories: DeFi & Crypto & Web3
Companies: Coinbase, Merge, Octopus Ventures, PayPal
Countries: World
This article is part of category

DeFi & Crypto & Web3





Octopus Ventures



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