Beam, a first of its kind stablecoin-based PSP, has raised $7M in a funding round led by Castle Island Ventures, with participation from Archetype, Bankless Ventures, Verda Ventures, Arca, and others. This new capital brings Beam’s total funding to $14M.

This funding will accelerate Beam’s mission to simplify the way businesses around the world move money. 

Since 2022, Beam has been at the forefront of combining the global reach, speed, and cost efficiencies of stablecoins with traditional payment networks and banks. As the first PSP of its kind to go live with Visa Direct, Mastercard Send, the Clearing House’s RTP network, and the Federal Reserve’s FedNow, Beam continues to connect stablecoin innovation with the traditional payment systems.

From optimizing liquidity management for SMBs, enabling instant on and off-ramps for consumers wallets, and accelerating global payins and payouts for online marketplaces, Beam’s payment infrastructure is becoming a critical piece of the modern money movement stack.

Consumer platforms like Sling Money and Felix Pago rely on Beam to easily move between stablecoins and USD. Goldenvoice previously partnered with Beam to facilitate payments for a fan activation at Coachella.

Business platforms like Shield and Antimetal use Beam to support crypto payments.

Payment orchestration platforms integrate Beam’s API to offer merchants alternative payment acceptance methods and global payout rails.

Most recently, Beam partnered with Braid, a digital banking infrastructure provider, to help community banks and credit unions launch stablecoin-enabled services to modernize both internal financial operations and the banking experience that over 100 million Americans rely on.

With steady month-over-month growth, Beam has processed over $275 million in total payment volume, which is a testament to the growing adoption among businesses seeking faster, more efficient ways to move money from point A to point B. 

“Payment processing has been almost entirely digitized, yet the settlement of value between buyers and sellers remains restricted by outdated money movement systems. At Beam, we are combining the best traditional payment systems (e.g. RTP, Visa Direct, etc) with a new, global stablecoin clearing & settlement layer. 

This new round of funding allows us to invest more in compliance/licensing, our platform & our team as we continue to expand our network capabilities in additional markets.  We’re now one step closer to connecting stablecoins natively to every instant payment rail in the world.” 

- Dan Mottice, Founder & CEO at Beam 

The funding will be used to:

  • Expand Beam’s footprint to put the power of faster, cheaper payments within reach of businesses and their users across LATAM, Africa, APAC & EU.
  • Strengthen Beam’s proprietary platform with more payment system integrations to ensure businesses and their customers can access digital or traditional currencies when they need it, while saving on fees. 
  • Bolster’s Beam’s licensing position in the US and other markets.
  • Grow Beam’s engineering, GTM & ops team to get Beam in the hands of more businesses and users around the world. 

To learn more about Beam and its next-generation payment services, visit getbeam.cash. 

About Beam

Beam is a first of its kind PSP, powered by stablecoins, built for faster, cheaper, and smarter global money movement. Beam helps fintechs, banks, consumer platforms, and more, compliantly move between digital and fiat currencies via the fastest payment rails in the world, all through one integration. To date, Beam has processed over $275M for clients ranging from payment platforms like Sling Money to world-renowned media brands like Goldenvoice, the team behind Coachella music festival. Beam is led by Daniel Mottice, former Product Lead at Visa Direct and Visa Crypto, who brings deep expertise from the world’s largest payments network to reimagine how money moves across currencies, countries, and payment rails.

About Castle Island Ventures 

Castle Island Ventures is a venture capital firm specializing in early-stage companies building in the blockchain and digital asset ecosystem. The firm focuses on businesses that leverage public blockchains to create novel financial products and services. With a deep understanding of blockchain innovations and financial technology, Castle Island Ventures supports transformative startups driving the future of finance. 

Media Contact:

John Llamas

Marketing Manager

Beam

John@getbeam.cash