Shield Raises $5M Seed to Expand Crypto Payments for Global Trade
Shield Raises $5M Seed to Expand Crypto Payments for Global Trade
Crypto neo-bank Shield announced on Monday that it has raised a $5 million seed round led by Giant Ventures, marking a significant step in its mission to make stablecoin-powered payments accessible to global businesses.
Launched in 2022 and pivoted to payments in 2024, Shield allows exporters and importers to settle cross-border transactions in U.S. cryptocurrencies. Beyond payments, the startup also provides compliance screenings, helping companies address sanctions risks and money-laundering threats.
Co-founder and CEO Emmanuel Udotong explained that Shield was created to push blockchain beyond speculation and scams into mainstream financial use cases. “We wanted to help bring blockchain technology into the real economy by solving real problems,” Udotong told TechCrunch.
He co-founded the company alongside his brother Isaiah and college friend Luis Carchi after struggling with international payments in a previous trade business.
The team identified a global problem: businesses in Latin America, Africa, and parts of Asia often face long delays, high fees, and restricted access to U.S. dollars when conducting international trade.
“Today, trade businesses in regions like Latin America, Africa, and parts of Asia often wait days or weeks for international wires, pay high fees, and in many cases, can’t access U.S. dollars at all,” Udotong said.
Such limitations reduce buyer opportunities, restrict growth, and in many cases, push businesses to failure. Shield aims to change this by enabling faster, cheaper, and more accessible cross-border payments using crypto rails.
The company is already registered as a money service business in the U.S. and as a crypto exchange in the EU, reinforcing its compliance-driven approach.
Since its launch, Shield has processed over $100 million in payments, with a remarkable $40 million transacted in the last month alone. This growth comes as the crypto industry rebounds from years of reputational challenges, with venture funding and unicorn valuations returning to the space.
The Shield is stepping into a crowded and competitive market. The startup faces challengers ranging from dozens of young fintechs to established players like PayPal’s Xoom and Stripe’s Bridge, both of which already dominate segments of the international payments market.
Despite this, Shield is betting on its crypto-first infrastructure and compliance focus to give it an edge in emerging markets underserved by traditional banking systems.
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Shield’s $5 million round brings its total funding to $7 million to date. Lead investor Giant Ventures joined the round after being introduced through a fellow founder.
Other backers include Chris Dixon’s a16z crypto startup accelerator, Factor Capital, Coinbase, and Bank of America as strategic angel investors. The mix of venture capital and strategic financial institutions signals growing institutional confidence in crypto-powered cross-border finance.
The fresh capital will be used to secure additional banking partnerships. The company currently works with two undisclosed banks, and to further develop its compliance infrastructure.
“That includes expanding licensing coverage, upgrading transaction monitoring and fraud detection, and growing our compliance team headcount and expertise,” Udotong noted.
With its latest funding, Shield plans to accelerate its efforts to give global trade businesses a fairer chance at growth. Udotong emphasised that the company’s mission goes beyond profits to support economic inclusion.
“If we succeed, more businesses in underserved regions will survive and grow, creating jobs and wealth for their communities instead of being left behind,” he said.
