Arf, a Zug, Switzerland-based provider of a VQF-regulated global settlement banking platform using Web3 technologies, raised $13M in Seed funding.
Backers included Circle Ventures, the Stellar Development Foundation (SDF), United Overseas Bank (UOB) Venture Management, Signum Capital, Hard Yaka, NGC Ventures, Blockchain Founders Fund, and 500 Emerging Europe.
The company intends to use the funds to further develop its blockchain-based technology to provide global treasury management and working capital credit lines for financial institutions and licensed money service businesses alike operating in the cross-border payments industry.
Co-founded by Kazım Rıfat Özyılmaz, Ali Erhat Nalbant, Ahmet Özcan, and Berhan Kongel, Arf is a global settlement banking platform offering digital asset-based working capital and settlement services with native on-ramp and off-ramp capabilities to licensed money service businesses and financial institutions. Arf recently received the approval of the Financial Services Standard Association (VQF). The firm opened a new office in Zug and started scaling its team. The company also announced the launch of Arf Credit Line in April, which provides money service businesses instant access to transactional working capital credit lines, and allows any corridor to be post-funded in real-time.
FinSMEs
27/10/2022