CandleFocus Sling Money opens ‘global Venmo’ to US users
2024-11-14
Author: Content Editor
Sling Money, a peer-to-peer payments app utilizing stablecoins and Solana, has launched for users with US bank accounts. The app aims to offer a global equivalent to Venmo, leveraging the Solana network and Paxos' USDP stablecoin to facilitate instant and low-cost money transfers. Sling Money has raised $20 million in seed and Series A funding, with investors including Union Square Ventures, Ribbit Capital, and Slow Ventures. The app plans to focus on international payments initially before targeting domestic usage. Sling Money aims to provide faster and cheaper transfers than Venmo while undercutting its fees for instant bank withdrawals. The app's founder, Mike Hudack, envisions using blockchain technology to connect the entire world financially.
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