Crypto neo-bank Shield has raised $5 million in seed funding, with Giant Ventures leading the round. The raise also saw backing from a16z crypto’s accelerator, Factor Capital, and strategic angels from Coinbase and Bank of America.
From Broad Crypto Platform to Global Payments
Founded in 2022, Shield began as a wide-ranging crypto platform but pivoted in 2024 to focus on one of the industry’s biggest opportunities: international payments.
The company now brands itself as a digital-first bank for global trade, allowing exporters and importers to send and receive funds using U.S. dollar-pegged stablecoins. What sets Shield apart is its emphasis on compliance, with built-in tools for sanctions screening and anti-money laundering (AML) controls — critical features for businesses navigating cross-border finance.
Tackling Global Trade Barriers
For co-founder and CEO Emmanuel Udotong, Shield’s mission is deeply personal. Together with his brother Isaiah Udotong and longtime friend Luis Carchi, he set out to prove that blockchain can move beyond speculation and address real-world problems.
Many businesses in Latin America, Africa, and Asia struggle with slow and expensive wire transfers, high fees, or limited access to U.S. dollars. These barriers often prevent them from expanding internationally. Shield aims to remove those obstacles.
By enabling transactions via stablecoins, the company offers a faster, cheaper, and more reliable alternative. Since launching, Shield has already processed over $100 million in transactions — including $40 million in the last month alone.
Competing in a Crowded Market
Shield is entering a payments space that has become increasingly competitive as crypto markets rebound and attract new capital. The company faces both crypto-native startups and established players like PayPal’s Xoom and Stripe’s Bridge.
However, Shield argues its regulatory-first approach gives it a unique edge. The startup is registered as a money services business in the U.S. and a licensed crypto exchange in the EU, demonstrating its commitment to building credibility across multiple markets.
How the New Funding Will Be Used
With $7 million raised to date, Shield plans to use its latest round to strengthen compliance infrastructure and expand banking integrations. Current efforts include two undisclosed banking partnerships, and the new funding will support:
- Licensing expansion across more jurisdictions
- Advanced transaction monitoring and fraud detection
- Scaling compliance and risk management teams
Leveling the Playing Field for SMEs
Beyond the technical infrastructure, Udotong frames Shield’s mission around economic empowerment. By reducing payment friction, Shield hopes to give small and medium-sized enterprises (SMEs) in underserved regions a fairer chance to compete globally.
“If we succeed,” Udotong said, “more businesses in underserved regions will survive and grow, creating jobs and wealth for their communities instead of being left behind.”
The Bigger Picture
Shield’s $5 million raise underscores how the intersection of crypto, compliance, and cross-border trade is becoming a vital area for enterprise technology investment. If the startup can execute on its vision, it could help redefine how businesses — especially those in emerging markets — connect to the global economy.