According to Techub News, TechCrunch reported that financial technology company Caliza completed US$8.5 million in financing, led by Initialized.

Caliza provides an API and front-end payment system that uses crypto stablecoins (specifically Circle’s USDC) and existing real-time payment networks to enable instant transfers and provide U.S. digital dollar accounts to international merchants.

The startup declined to name its clients but said they are mainly banks or fintech companies looking to better support international transactions, as well as individuals who need functions such as remittances and payroll.

Currently, Caliza’s team of ten is mostly based in Brazil. Thanks to the new round of funding, the company plans to double its headcount. The startup is also moving forward with its previously announced local launch plans.