Stablecoin startup Coinflow raises $25 million to challenge Stripe

Core Insights - The interest in stablecoins is growing across various sectors, but challenges remain in making them user-friendly like credit cards or digital wallets [1] - Coinflow has raised $25 million in Series A funding to enhance the use of stablecoins for faster transactions [1] - Coinflow aims to reduce transaction times from hours or days to seconds by using stablecoins as an intermediary [2] Company Overview - Coinflow, led by CEO Daniel Lev, is a payment service provider competing with established players like Stripe and Worldpay [2] - The company believes that stablecoins represent a paradigm shift in payment technology, potentially creating new winners in the market [2][5] - Coinflow's technology allows merchants to process payments without directly dealing with stablecoins, enhancing speed and cost efficiency [3] Technology and Partnerships - Coinflow partners with banks and stablecoin issuers globally, enabling it to mint and burn stablecoins and settle payments instantly [4] - The company operates across multiple blockchains, including Solana and Ethereum, focusing on speed and fees rather than specific blockchain preferences [4] Market Context - Coinflow was founded in 2022 during a downturn in crypto enthusiasm, but the perception of stablecoins as a powerful tool for money movement has shifted positively [5]