Cross-border payments startup Cedar Money has secured $9.9 million in seed funding to expand its stablecoin-powered payment network. The round was led by QED Investors, with participation from North Island Ventures, Wischoff Ventures, Lattice, and Stella.
Founded in 2022, Cedar Money leverages blockchain technology and stablecoins to modernize cross-border payments, challenging traditional Swift and correspondent banking systems. While users transact in fiat currencies, Cedar utilizes stablecoins in the background to enhance speed, reliability, and cost-efficiency in international transactions.
The company emphasizes a compliance-first approach, ensuring secure and regulated money movement between fiat and stablecoin ecosystems. This positioning makes Cedar particularly attractive for emerging markets where financial infrastructure often lacks efficiency.
Gbenga Ajayi, partner at QED Investors, commented: “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.”