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<p>Triple-A, the Singaporean digital currency payments firm founded by Eric Barbier, has announced the successful closure of its $10 million Series A funding round.</p><h2 id="header-0">$10 million raise</h2><p>In a <a href="https://triple-a.io/newsroom/triple-a-raises-10m-series-a-from-peak-xv-and-shorooq-partners-to-be-the-most-regulated-payments-institution-for-digital-currency-worldwide/" rel="noopener noreferrer nofollow">statement</a> on its website on Wednesday, the firm outlined that the raise had been led by Peak XV Partners (formerly known as Sequoia India &amp; South East Asia), who had previously invested in the company. In addition, the round received support from Abu Dhabi-based venture firm Shorooq Partners, alongside other undisclosed repeat backers.</p><p>The company offers white-label solutions for businesses, facilitating the seamless integration of cryptocurrency payments with quick conversion to fiat money in their bank accounts within just one day. Triple-A currently supports various cryptocurrencies, including Bitcoin, Ether, Tether, and USD Coin.</p><p><a href="https://techcrunch.com/2023/10/24/triple-a/" rel="noopener noreferrer nofollow">According</a> to Barbier, stablecoins are a game-changer in payments, as they enable real-time settlements, in contrast to traditional payment methods like SWIFT transfers, which may take several days to clear. He stated: “With stablecoins, individuals and businesses worldwide, even in emerging countries, can now easily own and use a USD-denominated currency.”</p><p>Barbier is known for his earlier success in founding the cross-border payments platform Thunes. The idea for Triple-A was born while Barbier was working at Thunes and recognized the potential of cryptocurrencies in resolving chargeback fraud issues.</p><p>Barbier saw cryptocurrencies as a more efficient payment method for businesses engaged in cross-border transactions. He explained:</p><p>“Cryptocurrency payments not only shield businesses from chargeback fraud risks but also help to streamline B2B cross-border payments. With instant settlements and no middlemen required, I realized we could solve many pressing issues in the payments industry today.”</p><h2 id="header-1">Expanding operations globally</h2><p>This funding round follows Triple-A’s $4 million seed round, bringing the total funds raised to date to $14 million. The new capital injection will be directed towards expanding Triple-A’s operations in key regions, including the Middle East, North America, and South America.</p><p>Moreover, the company plans to enhance its cryptocurrency solutions and offerings in its crypto payments and payout products. Currently headquartered in Singapore, Triple-A boasts a global presence with offices in Miami, Hong Kong, Paris, and Barcelona, supported by a team of over 70 professionals.</p><h2 id="header-2">Regulatory compliant path</h2><p>Triple-A is trying to differentiate itself through adherence to regulation. The company holds licenses that permit it to operate globally, including one from the Monetary Authority of Singapore (MAS) as a payments institution and a payments institution license from the central bank of France, allowing it to execute payment transactions across all EU member states.</p><p>The company is registered with the United States Financial Crimes Enforcement Network (FinCEN) and is actively looking to expand its regulatory footprint. In line with the regulatory path the business is treading, Triple-A’s target clientele primarily consists of enterprises that value compliance, regulation, and licensing and seek to engage in cryptocurrency payments without the associated risks and complexities.</p><p>Triple-A has already gained traction, serving more than 20,000 businesses, including prominent names such as <a href="https://thepaypers.com/digital-identity-security-online-fraud/istudio-and-triple-a-enable-payments-with-crypto-for-apple-products--1264615" rel="noopener noreferrer nofollow">iStudio</a>, Farfetch, Charles and Keith,<a href="https://technode.global/2023/08/07/singapore-red-cross-partners-with-triple-a-to-accept-cryptocurrency-donations/" rel="noopener noreferrer nofollow"> Singapore Red Cross</a>, Razer, and <a href="https://thepaypers.com/cryptocurrencies/reap-partners-triple-a-to-allow-businesses-to-pay-bills-with-crypto--1262594" rel="noopener noreferrer nofollow">Reap</a>, along with other large enterprises. In July, it <a href="https://www.prnewswire.com/news-releases/optty-partners-with-triple-a-to-expand-payment-architectures-into-cryptocurrencies-301888938.html" rel="noopener noreferrer nofollow">partnered</a> with universal payments platform Optty to enable crypto payments. The onboarding process is swift, with Triple-A completing the Know Your Customer (KYC) procedure and onboarding within one to two business days. The integration methods offered include API and no-code integration.</p>

Triple-A Secures Series A Funding to Advance Crypto Payments

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