Stablecoin payment platform Sling Money announced the completion of a $15 million Series A financing round led by Union Square Ventures

According to TechFlow, on August 15, the stablecoin payment platform Sling Money announced the completion of a $15 million Series A financing led by Union Square Ventures, Ribbit Capital and Slow Ventures. Previously, Sling Money received $5 million in financing in the seed round, led by Ribbit Capital and participated by Slow Ventures.

Sling Money uses stablecoin technology and a user-friendly interface to enable fast and low-cost global capital flows. Users can instantly transfer money between more than 50 countries in Europe and Africa. Transfers use the US dollar-backed stablecoin Pax Dollar (USDP) issued by Paxos Trust Company and are strictly regulated. The Sling Money team has extensive experience in product development, and the app is available on iOS and Google Play.