Fintech Diameter Pay has raised $10 million in Series A funding, more than five times its previous total fundraising combined. The round was co-led by CMT Digital and Lightspeed Faction, two blockchain-focused investors. Founded at MIT in 2017 under the name SendFriend, the company has processed over $10 billion in regulated payments to date. It now plans to add virtual currency corridors to its offering, relying notably on a partnership with Flagright for compliance and anti-money laundering screening. The company will focus particularly on emerging Asia, where cross-border payment costs remain high and financial inclusion needs are significant.
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