Shield Raises $5M Seed to Expand Crypto Payments for Global Trade Across Americas, Africa, Asia

Shield, a crypto-focused neobank founded in 2022 by Emmanuel Udotong, Isaiah Udotong, and Luis Carchi, has raised $5 million in a seed round led by Giant Ventures with participation from a16z Crypto, Coinbase, Bank of America, and others. The company aims to solve pain points in international trade by enabling exporters and importers, especially in Latin America, Africa, and parts of Asia, to conduct cross-border transactions using US stablecoins like USDT, providing faster, cheaper payments and access to US dollars where traditional banking falls short. Shield also offers compliance tools to address sanctions and anti-money laundering risks, ensuring regulatory adherence while facilitating crypto payments. Since its pivot to payments in 2024, Shield has processed over $150 million in cross-border payments, with $40 million processed in the last month alone, signaling strong growth and adoption. The funding will support expansion of licensing, compliance, fraud detection, and the launch of USDT-friendly bank accounts to further streamline international digital asset transactions. Shield positions itself as a bridge for underserved global trade businesses, leveraging blockchain technology to reduce costs, delays, and barriers inherent in legacy financial systems.