Stablecoin payment platform Sling Money announced the completion of a $15 million Series A financing round, led by Union Square Ventures.

DeepTechFlow News, on August 15th, stablecoin payment platform Sling Money announced the completion of a $15 million Series A financing round led by Union Square Ventures, Ribbit Capital, and Slow Ventures. Previously, Sling Money raised $5 million in seed funding, led by Ribbit Capital with participation from Slow Ventures.

Utilizing stablecoin technology and a user-friendly interface, Sling Money enables fast and low-cost global fund transfers. Users can make instant remittances between over 50 countries in Europe and Africa, using the Pax Dollar (USDP), a USD-backed stablecoin issued by Paxos Trust Company, which is under strict regulation. The Sling Money team has extensive product development experience, and the application is already available on iOS and Google Play.