Visa has participated in a $4.9 million Seed round for HoneyCoin, a payment orchestration platform compatible with stablecoins.
The round was led by Flourish Ventures, with contributions from Visa, TLcom, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler.
Founded in 2020, HoneyCoin allows customers to accept payments and transfer money in real-time using both stablecoins and traditional methods. The platform also facilitates issuing bank accounts, debit cards, and wallets across more than 45 markets worldwide.
HoneyCoin processes over $150 million in monthly transactions and serves over 350 enterprise clients, along with hundreds of thousands of consumers through its main app, Peer. Notable enterprise partners include Cedar Money, TerraPay, and Jiji.
David Nandwa, founder and CEO of HoneyCoin, stated, “Our mission is to create the operating system for money, enabling its movement, storage, and collection across any medium or geography. Just as Apple revolutionized computing and Visa changed global commerce, we believe financial infrastructure is experiencing a significant transformation.”
HoneyCoin holds licenses in multiple regions, including the US, Canada, EU, and key African markets, and has established direct integrations with banks and telecom operators through partnerships with MoneyGram, UBA Bank, and Stripe.
Nandwa highlighted that the new funding will support team growth, expansion of licensure and compliance efforts, and further development of their API-first product suite for payment service providers and enterprises seeking compliant access to stablecoin settlement solutions and foreign exchange liquidity.