a16z crypto-backed Shield raises $5M to help facilitate international business transactions in crypto

Crypto neo-bank Shield announced on Monday that it has raised a $5 million seed round led by Giant Ventures. The company launched in 2022 and pivoted to payments in 2024. It allows exporters and importers to conduct cross-border transactions in US cryptocurrencies, while also providing compliance screenings, such as addressing sanctions and money laundering threats. Emmanuel Udotong, co-founder and CEO, said he and his team started Shield because they were “disappointed by the lack of completing mainstr ...