PANews reported on September 22nd, according to Techcrunch, that cryptocurrency neobank Shield announced on Monday that it has completed a $5 million seed round of funding led by Giant Ventures. Other participants in this round include Chris Dixon's a16z cryptocurrency startup accelerator, Factor Capital, as well as Coinbase and Bank of America as strategic angel investors. The company stated that it has raised $7 million in funding to date.

The company, reportedly founded in 2022, pivoted to the payments sector in 2024. It allows importers and exporters to conduct cross-border transactions using US cryptocurrencies while also providing compliance review services. The new funding will be used to pursue additional banking partnerships, though the company declined to name two major banks, although it already has them. Furthermore, the company will continue to refine its compliance offerings.