Blockchain payment company Riva raises $3 million in seed funding led by Project A

ChainCatcher reports that global payments company Riva Money has announced the completion of a $3 million seed funding round, led by Project A, with participation from several individual investors from Revolut, Monzo, and J.P. Morgan.

Riva leverages blockchain technology and stablecoins to optimize cross-border payment processes, aiming to reduce costs, accelerate settlements, and offer more favorable exchange rates. The company was co-founded by former Revolut and Wise executives Niklas Hoejman and Mahendra Katoch, and is currently applying for payment institution licenses in the UK and EU, as well as MICA and VASP licenses, to advance its global compliance strategy.