Argentine payments startup Pomelo has raised $55 million in Series C funding to launch a stablecoin credit card.
On January 22, Pomelo, a fintech company headquartered in Argentina, completed a $55 million Series C financing round led by Kaszek and Insight Partners, aiming to deepen its presence in the Latin American market and expand its global business.
The funds will be used to expand its credit card payment processing business in Mexico and Brazil, and to launch a global credit card settled with the stablecoin USDC. Pomelo also plans to develop a cross-border real-time and intelligent proxy payment system to serve traditional banks and large international clients. Current partners include Visa, Mastercard, an exchange, Western Union, and others.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
SpaceX plans to invest 74 billion USD to build data centers in Arizona and Texas
SpaceX announced an investment of 50 billion USD to build a data center in Arizona and an additional investment of 24 billion USD in a data center near its headquarters in Starbase, Texas. SpaceX stated that the data centers will provide a large number of jobs; for the Texas project, the company has committed 220 million USD to expand wastewater treatment facilities.
PRF Technologies faces Nasdaq delisting over minimum bid price breach
Crypto prices
More
