Shield, a cryptocurrency neo-bank, has raised US$5 million in a seed round led by Giant Ventures.

Launched in 2022, Shield shifted its focus to payments in 2024 and offers cross-border transactions in US cryptocurrencies for exporters and importers.

The platform includes compliance screenings for sanctions and money laundering risks and is registered as a Money Service Business in the US and as a crypto-exchange in the EU.

Shield said it has processed more than US$100 million in payments since launch, with US$40 million handled in the past month.

Other investors in the round include Chris Dixon’s a16z cryptocurrency startup accelerator, Factor Capital, Coinbase, and Bank of America as strategic angel investors.

Shield plans to use the new funding to secure additional banking partnerships and expand its compliance offerings.

🔗 Source: TechCrunch