stablecoin payment service provider Beam announced the completion of a $7 million financing round, led by Castle Island Ventures, with participation from Archetype, Bankless Ventures, Verda Ventures, and Arca Fund. Currently, Beam is registered as a US currency service business and complies with SOC 2 Type II standards. The new funding is intended to support its use of stablecoins and fiat currencies for cross-border fund transfers, provide real-time currency exchange, convert cryptocurrencies to fiat currencies, and seamlessly integrate with bank accounts and digital wallets.
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Stablecoin payment service provider Beam completes $7 million financing
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