Digital currency payment institution based in Singapore Triple A announced a $10 million Series A funding round on Wednesday.
The round is led by repeat investor Peak XV Partners (formerly Sequoia India & South East Asia) and Shorooq Partners, one of the leading technology investors in the Middle East and North Africa (MENA). Triple-A said it is also receiving strategic support. In a statement.
A little more than a year ago, the startup raised $4 million in seed funding, which laid the foundation for its platform.
It is noteworthy that several existing investors who recognized Triple A’s potential early on also participated in this Series A round, reaffirming their faith in the company and team.
Founded in 2017 by serial fintech founder Eric Barbier, Triple-A is a pioneer in digital, stablecoin, and blockchain-driven payments, helping businesses around the world to It allows you to pay and get paid faster, 24 hours a day, 365 days a year, and without the risk of currency fluctuations. Compliance standards.
The company is licensed as a payment institution by the Monetary Authority of Singapore (MAS).
The company also holds a payment institution license from the Bank of France, allowing it to carry out payment transactions in all European Union (EU) member states.
The company is also registered with the US Financial Crimes Enforcement Network (FinCEN).
The company said it continues to strengthen regulatory frameworks in countries around the world to ensure Triple A merchants operate in a safe and compliant environment.
Note that the company’s mission is to build a more efficient global payments ecosystem by bridging the gap between traditional finance and blockchain-backed payments.
The company recently partnered with iStudio, Singapore’s largest reseller of Apple products, to allow customers to pay using cryptocurrencies at select iStudio stores.
Merchants such as Farfetch, Charles and Keith, Singapore Red Cross, Razer, and Reap are also using Triple A to offer cryptocurrencies as a form of payment. Major currencies include USDT, USDC, ETH, and BTC.
Triple-A also recognizes the growing demand from business customers for trusted, licensed digital currency payment solutions for purchases and cross-border B2B flows.
Triple-A has a diverse team of over 70 employees and maintains a global presence with offices strategically located in Singapore, Miami, Hong Kong, Paris and Barcelona.
“We believe that stablecoins and other digital currencies are transforming cross-border transactions by enabling instant money transfers 24/7.
“Triple A is building a complete suite of products to help businesses receive, manage and send funds around the world.” said Eric Barbier, founder and CEO of Triple A. It is stated as follows.
Mr. Barbier is a third-time fintech founder who has created immense value at both of his previous companies, including Thunes.
His expertise lies in identifying key problems and building solutions in growing markets. Eric has spent over 15 years specializing in fintech and cross-border payments.
Mr. Barbier also serves on the boards of several fintech startup companies.
Joining Eric in his mission is Elodie Trichet, a payments sector veteran, as Triple-A’s Chief Operating Officer.
Mr. Trichet has decades of experience in the payments space, including executive positions at global payments company Adyen and fintech startup Airwallex.
“Blockchain-based digital infrastructure provides real value for cross-border payments in terms of speed of flow and liquidity,” said Aakash Kapoor, Vice President, Peak XV.
He said these infrastructure rails, including stablecoins and centrally backed digital currencies (CBDCs), have the potential to transform the way global companies transact money more efficiently.
“With approvals from key regulators in Singapore and Europe, Triple A is building a stable, compliant foundation to realize this future,” he added.
Peak XV is a leading venture capital firm with investments in India, Southeast Asia and the rest of the world.
Over the past 17 years of operations in the region, Peak XV has grown to manage more than $9 billion in capital across 13 funds and invested in more than 400 companies.
Singapore Red Cross Society partners with Triple A to accept cryptocurrency donations