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

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 r esearch 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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