Crypto rails for Africa's exporters.
Shield, a cross‑border stablecoin neobank, raised $5 million in seed funding led by Giant Ventures with a16z crypto's CSX, Factor Capital, and a host of angels participating.
The platform has processed over $150 million in payments, including $40 million last month, giving African exporters dollar accounts and instant settlement via USDC.
Co‑founders Emmanuel Udotong (CEO), Isaiah Udotong (COO), and Luis Carchi (CTO) are building a bank where merchants can hold revenue in stablecoins, hedge FX risk, and pay suppliers across 20+ countries.
Shield earns fees on exchange spreads and account services.
With devaluing local currencies and chronic FX shortages, demand for digital dollars is soaring. Can a stablecoin neobank become Africa's default for cross‑border trade?
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