Singapore-based digital currency payments firm Triple-A recently completed a successful Series A funding round, raising $10 million. The round was led by returning investors Peak XV, formerly known as Sequoia India and Southeast Asia, with strategic support from venture firm Shorooq Partners focused on the MENA region. This funding follows Triple-A’s previous seed round, bringing the company’s total raised capital to $14 million.
Founded by Eric Barbier, the creator of the cross-border payments platform Thunes, Triple-A aims to revolutionize the intersection between traditional finance and blockchain-based payments. The company offers white-label solutions that enable businesses to seamlessly integrate cryptocurrency payments and receive fiat money in their bank accounts the following day.
With the new funds, Triple-A plans to expand its operations in key regions such as the Middle East, North America, and South America. Additionally, the company aims 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 its innovative payment solutions, attracting over 20,000 businesses as clients. Notable clients include iStudio, Farfetch, Charles and Keith, Singapore Red Cross, Razer, and Reap, among numerous other large enterprises. The company’s streamlined onboarding process, which includes completing the KYC (know your customer) process and integration through APIs or no-code integration, has made it an attractive option for enterprises seeking compliance, regulation, and licensing.
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CEO Eric Barbier believes that stablecoins are game-changers in the payments industry. Stablecoins offer real-time settlements, providing a faster and more efficient alternative to traditional payment methods like SWIFT transfers. Barbier stated, “Many businesses cannot afford to wait two to three days for a SWIFT transfer to clear, and that need for speed and efficiency prompted me to build Triple-A.” Through stablecoins, individuals and businesses worldwide, including those in emerging countries, can easily own and use a USD-denominated currency.
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. This commitment to compliance and licensing sets Triple-A apart from its competitors, such as B2BinPay and CryptoProcessing by CoinsPaid.
Barbier emphasizes the importance of compliance, stating, “Compliance is a cornerstone for us, and we aim to be the most regulated payment institution for digital currencies worldwide. This is instrumental in onboarding businesses that prioritize compliance and wouldn’t have otherwise enabled crypto payments.”
In conclusion, Triple-A, a Singapore-based digital currency payments firm, recently completed a successful $10 million Series A funding round. The company offers white-label solutions for businesses to seamlessly integrate cryptocurrency payments and receive fiat money. With the new funds, Triple-A plans to expand its operations in key regions and enhance its range of cryptocurrency solutions. The company has gained traction with over 20,000 businesses utilizing its services, and its commitment to compliance and licensing sets it apart from competitors. Stablecoins are seen as game-changers in the payments industry, providing a faster and more efficient alternative to traditional payment methods. Triple-A has secured licenses from regulatory authorities worldwide and aims to be the most regulated payment institution for digital currencies globally.
