Blockchain payment company Riva completes $3 million seed round financing, led by Project A and participated by J.P. Morgan

Riva Money, a global payment company, announced the completion of a $3 million seed round led by Project A, with individual investors from Revolut, Monzo, and J.P. Morgan participating in the investment. Riva utilizes blockchain technology and stablecoins to optimize cross-border payment processes, addressing pain points such as high costs and slow settlements in existing systems, while providing more favorable exchange rate options. The company was co founded by former Revolut and Wise executives Niklas Hoejman and Mahendra Katoch, and is currently applying for UK and EU payment authority authorization, as well as MICA and VASP licenses, to promote global regulatory expansion.