Wyre nabs $5m investment from the Stellar Development Foundation

Blockchain payments company Wyre has been given a $5m investment from the Stellar Development Foundation.

“We’re focused on making money transfers easy, cost effective, and truly borderless, so working with the Stellar Development Foundation is a perfect fit,” said Ioannis Giannaros, CEO at Wyre.

“This investment means we can continue our growth into international markets while providing developers an easy way to integrate with the Stellar ecosystem. Building the world’s most robust, innovative, and inclusive financial system is a shared objective.”

Wyre will use the cash injection to introduce a variety of payment APIs to FinTech applications on the Stellar network, integrating with existing anchors and enabling Stellar USDC on/off ramps in existing fiat pairs.

“Growing the network of Stellar anchors — stablecoin issuers and on/off ramps — is fundamental to how Stellar connects global financial systems with blockchain technology,” said  Denelle Dixon, CEO and executive director of the Stellar Development Foundation.

“Bringing Wyre’s industry-leading payment APIs to the Stellar ecosystem will empower businesses, especially anchors, to expand existing payment corridors and develop new ones. Simplifying expansion and development on Stellar moves us closer to our goal of creating equitable access to the global financial system.”

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