Stablecoin card issuing infrastructure platform Kulipa raises $6.2 million seed round
Kulipa, a stablecoin card infrastructure platform, raised $6.2 million in a seed round to expand its services, particularly into the U.S. market.Summary
Paris-based Kulipa has secured $6.2 million in seed funding, co-led by Flourish Ventures and 1kx, to facilitate the issuance of stablecoin payment cards. The platform aims to simplify stablecoin spending by handling complex card operations like payment processing and fraud management for its clients, including fintech firms like Flutterwave and crypto wallets like Solflare and Ready. Kulipa currently operates in the EU, Argentina, and Nigeria and plans to expand into the U.S. through a BIN sponsorship. The company has already issued over 120,000 cards and experienced 70% month-over-month growth in transaction volume. Kulipa differentiates itself by offering a faster and less complex route to market compared to directly partnering with Visa or Mastercard, and by leveraging AI for efficient operations.
(Source：The Block)