Overview

• Seed round was led by Giant Ventures, with participation from a16z’s crypto accelerator, Factor Capital, Coinbase and Bank of America, bringing total funding to $7 million.
• Shield reports processing over $100 million in transactions since launch, including $40 million in the past month, as it targets exporters and importers using U.S. dollar stablecoins.
• The company launched in 2022 and pivoted to payments in 2024 to address slow, costly international wires and limited dollar access in Latin America, Africa and parts of Asia.
• New capital will go toward securing additional banking partnerships beyond its two current undisclosed partners and expanding licensing, transaction monitoring, fraud detection and compliance hiring.
• Shield says it is registered as a U.S. Money Service Business and as a crypto exchange in the EU, entering a crowded field that includes PayPal’s Xoom and Stripe’s Bridge.