Stablecoin crypto startup Coala Pay completed a $3.50 million seed round led by Castle Island Ventures, with participation from the founders of Lattice Fund, Factor Capital, and crypto philanthropy platform The Giving Block. The company will use the funds from this round of financing to expand the team and recruit employees with experience in the United Nations and the US government.
According to the presentation, the company works to connect humanitarian aid organizations with potential donors. Coala Pay helps vet donors and local aid organizations, requiring exhaustive documentation from both parties to prove their legitimacy. Once both parties are whitelisted, parties can access each other's documents as needed. Instead of signing physical contracts, Coala Pay creates smart contracts for stablecoin transactions and generates a token to store information and track the use of funds.
Stablecoin Crypto Startup Coala Pay Completes $3.50 million Seed Round
2025-02-07 23:27:02
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