Friday, 31 March 2023

MAS-licensed crypto payments company TripleA secures $4 million in funding

5 min read

 TripleA, a crypto payments company, announced that it secured $4 million in funding led by leading global lifestyle brand for gamers, Razer’s corporate ventures arm, zVentures. TripleA is the first Crypto Payments Company that has earned the Digital Payment Token license from the Monetary Authority of Singapore (MAS). This allows the company to provide end-to-end cryptocurrency payment services for businesses in full compliance with global regulatory standards.

Eric Barbier, founder, and CEO of TripleA shares that “this strategic investor partnership with zVentures brings knowledge, connections and consultancy in the gaming sector for TripleA, a key vertical for crypto payments.”

Right now, there is immense potential for crypto to be more involved in the gaming industry. According to a survey conducted by World Asset eXchange, 80 percent of gamers are interested in using cryptocurrency to make transactions within gaming. Close to two-thirds wish there were more opportunities to do so.

“Through zVentures, we are always on the lookout for market-leading, early-stage companies such as TripleA, to nurture and support them,” said Li Meng Lee, Chief Strategy Officer at Razer. “TripleA is a clear leader in crypto payments, an area of interest and relevance to us in the gaming space. We look forward to this strategic partnership with them, accelerating their growth and adoption by leveraging on our existing ecosystem of hardware, software and services.”

TripleA is founded by Eric Barbier, a repeat FinTech entrepreneur with a proven track record of building successful payments companies. He co-founded Mobile 365 back in 1999, a mobile messaging hub which reached a subscriber base of over 400 million. It was acquired by Sybase (now SAP) for $425M. He then founded TransferTo (now Thunes and DTone) in 2006 on the idea that transferring money should be as easy as sending a text message. Today, Thunes has raised over $60M, and is now the largest payment network connected to mobile wallets. With partners like Paypal and M-Pesa in its network, Thunes supports 60+ currencies, enables payments to 110+ countries, and helps businesses accept 285+ payment methods.

With more than 15 years of FinTech and payments experience on Eric Barbier’s belt, he believes crypto payments is the future that is unfolding right now.

This news follows the recent announcement that TripleA was selected by Binance as its global cryptocurrency gateway.

Re-disseminated by The Asian Banker

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