PANews reported on August 12th that global payments company Riva Money announced the completion of a $3 million seed round led by Project A, with participation from individual investors from Revolut, Monzo, and JP Morgan. Riva leverages blockchain technology and stablecoins to optimize cross-border payment processes, addressing the high costs and slow settlement times of existing systems while offering more favorable exchange rates. Co-founded by former Revolut and Wise executives Niklas Hoejman and Mahendra Katoch, the company is applying for UK and EU payment institution authorizations, as well as MICA and VASP licenses, to facilitate its global regulatory expansion.