Coinflow Labs Raises $1.45M in Pre-Seed Funding
Summary
The funding will enable the company to further accelerate its product, software and business development initiatives, onboard new customers, and expand its team. Its off-ramp product allows customers to move cryptocurrency from self-custody wallets instantly to their bank accounts using existing real-time payment rails. Currently, Coinflow’s products are live on the Solana, Near, Polygon, and Ethereum blockchains, with the intention to expand to additional chains. The company has secured partnerships with Web3Auth, a non-custodial auth infrastructure provider, and Tier 1 US Banks for payment processing and off-ramp services. Coinflow is also an early adopter of the United States’ FedNow program which enables financial institutions to deliver end-to-end faster payment services to their customers and is anticipated to launch in late 2023.