Singapore-based Triple-A Raises $10 Million in Series A Funding
Singapore-based digital currency payments firm Triple-A has successfully completed a Series A funding round, raising $10 million. The round was led by returning investors Peak XV and received strategic support from Shorooq Partners. This funding comes one year after Triple-A’s seed round, bringing the company’s total raised capital to $14 million.
Triple-A, founded by Eric Barbier, the creator of cross-border payments platform Thunes, aims to revolutionize the intersection between traditional finance and blockchain-based payments. The company offers white-label solutions for businesses, allowing them to seamlessly integrate cryptocurrency payments and receive fiat money in their bank accounts the following day.
Expansion Plans and Enhanced Cryptocurrency Solutions
With the newly acquired funds, Triple-A plans to expand its operations in key regions such as the Middle East, North America, and South America. Additionally, the company intends to enhance its range of cryptocurrency solutions, further advancing its crypto payments and payout products. Currently, Triple-A supports various cryptocurrencies including Bitcoin, Lightning, Ether, Tether, and USD Coin.
Triple-A has gained significant traction with over 20,000 businesses already utilizing its services. Notable clients include iStudio, Farfetch, Charles and Keith, Singapore Red Cross, Razer, Reap, and numerous large enterprises. The company’s streamlined onboarding process and compliance measures have made it an attractive option for businesses seeking regulation and licensing.
Stablecoins as a Game-Changer in Payments
Eric Barbier, CEO of Triple-A, believes that stablecoins are revolutionizing the payments industry. Stablecoins offer real-time settlements, providing a faster and more efficient alternative to traditional payment methods like SWIFT transfers. Barbier stated, “With stablecoins, individuals and businesses worldwide, even in emerging countries, can now easily own and use a USD-denominated currency.”
Triple-A’s Regulatory Framework and Competition
Triple-A has secured licenses from regulatory authorities worldwide, including the Monetary Authority of Singapore (MAS) and the Central Bank of France. The company is also registered with the United States Financial Crimes Enforcement Network (FinCEN) and plans to expand its regulatory framework globally.
While Triple-A faces competition from other companies offering cryptocurrency payment solutions, such as B2BinPay and CryptoProcessing by CoinsPaid, it sets itself apart by prioritizing compliance and licensing. Triple-A aims to be the most regulated payment institution for digital currencies worldwide.
Hot Take: Triple-A Raises $10 Million in Series A Funding to Expand its Cryptocurrency Payment Solutions
Singapore-based digital currency payments firm Triple-A has successfully raised $10 million in a Series A funding round. With this funding, the company plans to expand its operations in key regions and enhance its range of cryptocurrency solutions. Triple-A offers white-label solutions for businesses to integrate cryptocurrency payments seamlessly. It has gained significant traction with over 20,000 businesses utilizing its services. The CEO of Triple-A believes that stablecoins are transforming the payments industry. The company has secured licenses from regulatory authorities worldwide and aims to be the most regulated payment institution for digital currencies globally. Despite competition, Triple-A sets itself apart through its compliance measures and licensing.
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