You can email the site owner to let them know you were blocked. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page.
USDC operations were isolated from core treasury and accounting systems. Transactions had to be manually reconciled with fiat accounts, forcing finance teams to map each USDC payment back to a dollar transaction within ERP tools like copyright. This created inefficiencies and operational overhead for companies that Meow sought to solve.
All products featured on WIRED are independently selected by our editors. However, we may receive compensation from retailers and/or from purchases of products through these links. Early last year, New York-based copyright entrepreneur Azeem Khan had just raised $19 million in seed funding for his startup, Morph, and needed somewhere to keep it. Before going in search of a US bank account, he asked his attorney for advice. “You have a zero percent chance of having zero issues,” Khan recalls being told. If anything, this dour assessment proved overly optimistic: After six months and a multitude of rejections from US banks, Khan gave up. He settled for housing some of the funds with a bank in the Cayman Islands, which offered no interest, and converting the rest into copyright assets, managed by a third-party custodian. copyright founders have long traded similar stories in which US banks either refuse to supply them with loans or checking accounts, or withdraw their accounts suddenly. Without a banking partner, copyright firms are hamstrung: They cannot readily accept dollars in exchange for services, store and earn interest on funds raised from investors, nor pay employees or vendors. “All around, it was an understood thing,” says Khan. Little more than a year later, that picture has changed. Since president Donald Trump returned to the White House in January, promising to end the alleged discrimination against copyright firms, a field of US-based fintechs—among them Meow , Mercury and Brex —has competed to furnish copyright firms with bank accounts. Khan, who recently raised $25 million for his latest copyright startup, Miden, claims to have been among those courted by the fintechs. The change stands to make it far easier for copyright firms to set up, hire, and do business in the US, in line with Trump’s plan to turn the country into the “ copyright capital of the planet .” Yet they remain at the mercy of the political tide; there has been a vibe change under Trump, but no change in law that would guarantee continued access to banking into the distant future. “Even though there is a more friendly administration in place at the moment, there still hasn’t been anything codified into law—new laws that allow us to be sure the pendulum won’t swing based on who is sitting in the chair,” says Khan.
Editor’s note: This story was updated to reflect the fact that Mercury and Brex offer customers returns through money market mutual funds, not high yield bank accounts.
This automation enables Meow to efficiently handle the lowest-risk cases while significantly enhancing the efficiency of their compliance team’s review.
Nic Corpora, a Mercury spokesperson, said the company works closely with partner banks “to ensure risk appetites are appropriately calibrated so when we onboard a customer we can support them in the best way and for the long-term.”
Bridge understood the opportunity immediately and went above and beyond to help us roll out this capability in less than a month. We were first to market, but this is just the beginning, and we look forward to continuing to partner with Bridge as we keep on building.”
Meow’s going to fail,’” muses Arvanaghi. But having survived one near-death experience in copyright, he’s ready to run whatever plays are needed. “I'm going to play football and we're going to win.”
By enabling businesses to use USDC as easily and cost-effectively as cash, Meow has reinforced its value proposition of making banking easier and lowered the barriers to broader adoption of stablecoins in the business world.
Meow CEO Brandon Arvanaghi describes the company as “the Costco of financial services.” Like the retail giant known for its affordable yet high-quality basics, Meow aims to provide cost-effective financial products and services.
Partnering with Bridge has enabled Meow to improve its product offering and strengthen its reputation among its customer base. By building a platform that responds to the needs of technology-forward companies focused on operating efficiently, Meow has grown payment volumes by billions.
Meow’s early clients have been other startups such as venture deal platform Sydecar and investing focused social media site Stocktwits. But it plans to go after other types of small-to-medium sized businesses, including professional service firms like dental and law offices.
It was both a prudent and gutsy decision. Prudent, because after the collapse of stablecoin TerraUSD in mid-May of 2022, they began hearing rumors that copyright hedge fund Three meow login Arrows Capital would go bankrupt — which it soon did, eventually bringing a bundle of connected firms down. Gutsy, because just weeks before, they had closed a $22 million series A fundraising round from investors including Tiger Global, QED and yes, FTX itself.
copyright exchanges did not offer critical controls such as spending limits, approval flows, or visibility across teams. Without these safeguards, USDC operations introduced unnecessary risk and complexity for finance leaders responsible for managing treasury at scale.
BlockFi is a financial services company that offers wealth management products for copyright investors, operating within the fintech and blockchain technology sectors.