#United States #New York #Payments #stablecoin #Tesser

Tesser Secures $4.5 Million Seed Round to Accelerate Cross-Border Payments

Tesser, a promising startup specializing in instant cross-border payment solutions, has recently secured $4.5 million in seed funding. This significant round was led by Castle Island Ventures, with participation from notable firms like Strobe Ventures and Anthemis, along with various strategic investors. Founded by Geetha Panchapakesan, who boasts an impressive 18-year tenure at prominent companies such as MoneyGram, Visa Direct, and Circle, Tesser aims to fill a crucial void in the financial services landscape. Many traditional financial institutions desire to incorporate stablecoins into their operations but often find themselves hindered by the lack of necessary technical infrastructure.

In 2024, the global payment volume processed by Visa reached an astounding $13.2 trillion, while stablecoin transaction volumes skyrocketed to $6.4 trillion, indicating a major shift in market share from conventional banking entities to blockchain-based solutions. Tesser's innovative platform for stablecoin payments promises to dramatically decrease international payment processing times from weeks to mere hours, alongside a staggering 95% reduction in transaction costs compared to industry averages.

The platform provides a comprehensive suite of services, including wallet provisioning, treasury management, compliance orchestration, and reconciliation, effectively simplifying the complexities of blockchain. This allows banks and payment service providers (PSPs) to maintain complete control over risk management and customer relationships without the burden of blockchain's inherent complexity.

"We are equipping institutions with the full-stack infrastructure they need to integrate blockchain into their payment systems, akin to how mobile payments were adopted in the past," stated Panchapakesan. "Unlike other platforms that may compete with banks, we position ourselves as supportive partners to them, PSPs, and fintech firms."

The launch of Tesser’s minimum viable product (MVP) is scheduled for Money 2020, taking place in Las Vegas in October 2025. Interested parties can keep abreast of developments through their website, tesser.xyz/updates, or connect with Tesser directly at the event.

In summary, Tesser is not just another player in the fintech space; the company is determined to redefine how financial institutions manage cross-border transactions by marrying traditional finance with blockchain technology. With a robust support system in place, Tesser is poised to lead the charge towards a more efficient and cost-effective financial ecosystem.

About Tesser

Founded in 2025 and headquartered in New York, Tesser offers licensed financial institutions a robust platform designed to facilitate the seamless integration of blockchain-based payment solutions.

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