Kulipa, a Paris-based stablecoin card issuing infrastructure platform, has raised $6.2 million in seed funding. The company aims to connect blockchain settlement systems with the world of everyday financial transactions.
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The round was co-led by Flourish Ventures and 1kx. It also had additional participation from White Star Capital and Fabric Ventures.
Kulipa is positioning itself as a solution to this problem. The company provides fintech platforms with the ability to issue globally accepted payment cards funded directly from stablecoin balances. Its infrastructure targets a wide range of use cases, including payroll, cross-border payments, digital banking, and spend management.
Kulipa’s platform centers on a stablecoin-native issuing system, built to boost capital efficiency while staying compliant with regulations in various markets. The platform streamlines operations by verifying balances and settling transactions onchain, which lessens the need for pre-funded accounts. This approach, unlike the conventional model, often demands substantial capital reserves and introduces operational intricacies.
Cards issued through Kulipa can be used anywhere major card networks are accepted. This allows users to make retail payments or withdraw cash from ATMs. The company also assumes fraud liability for transactions, removing a major operational burden for fintech partners and making the model more attractive for scaling.
“Stablecoins have proven their value as a settlement layer, but using them in everyday financial products is still early,” said Axel Cateland, Founder and CEO of Kulipa.
“Card issuance is the bridge between onchain balances and real-world payments. We built Kulipa to give regulated fintech platforms the compliant, capital-efficient infrastructure they need to operate at global scale.”
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