iPeakoin Raises Nearly $10 million in Series A

iPeakoin, a neobank blending traditional finance and crypto, recently secured close to $10 million in its Series A round led by ZhenFund. It’s making waves in mainstream crypto adoption by offering a banking platform handling both crypto payments and traditional financial services. The platform swiftly integrates businesses, reducing onboarding time compared to traditional banks, and allowing operations to begin in days.

Established in 2020, with bases in Singapore and Hong Kong, iPeakoin stands out by bridging traditional finance and the crypto world. The team, with members from Stanford, the University of Michigan, Google, Meta, Visa, and Ant Financial, brings vast expertise.

iPeakoin co-founder and head of product Rommy Song comments on the company’s vision:

“We aim to develop an innovative product that enables new businesses and new markets to foster their growth. By effectively combining traditional financial infrastructure with blockchain technology, we can offer more efficient solutions that align with the evolving demands of the new business landscape.”

iPeakoin’s product range caters to diverse clients, spanning advertising, gaming, global trade, and Web3.0 projects:

• Crypto Wallet for Enterprises: Manages large-volume digital assets for enterprise clients.
• Global Account: Simplifies fiat settlement, exchange, and payment processes and links with the Crypto Wallet.
• Quantum Virtual Card: A multi-currency business credit card for online payments.
• Particle Treasury: Offers yields for idle funds with flexible terms, backed by US T-bills.

Especially in emerging markets, where crypto is rising, iPeakoin’s services are highly valuable. It aids companies in developed markets accepting crypto payments from these emerging-market countries, opening new lucrative sectors. iPeakoin aims to revolutionize global business banking, offering more control over funds and simpler transactions. Their focus on unique products and compliance resulted in a fivefold growth in 2023.

Robert Feng, the VP of Sales and Strategy, said in a statement:

“We see more and more companies in traditional industries are adopting crypto for various reasons, especially those operating in countries with unstable economic environment and volatile currency exchange rates. It’s also a good sign to see regulators formulating relevant policies so that cooperates and service providers like us know how we move forward in a compliant manner.”