Merge, a new platform focusing on Web3, has emerged from stealth and announced a $9.5mn Seed round.
In Brief:
Merge was founded by former executives from PayPal and Barclays, Coinbase and Luno.
It will offer payments and banking solutions for Web3 companies.
The funding round was led by Octopus Ventures.
What does this mean?
Merge aims to bridge the gap between fiat and crypto through APIs, to assist businesses building in Web3.
Octopus Ventures said a reason for investing was that as cryptocurrency moves further into the mainstream, there are not yet enough companies providing the right financial infrastructure to make this work.
