Stablecoin payment company NALA announces $50 million credit facility support
According to ChainCatcher, as reported by TechFundingNews, stablecoin payment company NALA has announced that it has secured a $50 million credit facility from Liquidity through its joint venture Mars Growth Capital with Japan's Mitsubishi UFJ Bank (MUFG). The new funds will be used to develop a stablecoin payment infrastructure, with a focus on supporting cross-border payment expansion in emerging markets such as Africa and Asia. This includes providing stablecoin-based real-time payment and collection, fund pre-deposit, and treasury management services.
Previously, in July 2024, NALA completed a $40 million Series A funding round. Investors included Acrew Capital, DST Global, Norrsken22, HOF Capital, Amplo, as well as angel investors such as Robinhood co-founder Vlad Tenev and Chime co-founder Ryan King.
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