In addition to invoicing, Bridge has enabled Meow to integrate USDC within standard accounting workflows. Businesses can automate the reconciliation of USDC transactions within their existing accounting software, such as copyright. This includes invoices, which are automatically categorized and marked as paid.
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
All products featured on WIRED are independently selected by our editors. However, we may receive compensation from retailers and/or from purchases of products through these links. Early last year, New York-based copyright entrepreneur Azeem Khan had just raised $19 million in seed funding for his startup, Morph, and needed somewhere to keep it. Before going in search of a US bank account, he asked his attorney for advice. “You have a zero percent chance of having zero issues,” Khan recalls being told. If anything, this dour assessment proved overly optimistic: After six months and a multitude of rejections from US banks, Khan gave up. He settled for housing some of the funds with a bank in the Cayman Islands, which offered no interest, and converting the rest into copyright assets, managed by a third-party custodian. copyright founders have long traded similar stories in which US banks either refuse to supply them with loans or checking accounts, or withdraw their accounts suddenly. Without a banking partner, copyright firms are hamstrung: They cannot readily accept dollars in exchange for services, store and earn interest on funds raised from investors, nor pay employees or vendors. “All around, it was an understood thing,” says Khan. Little more than a year later, that picture has changed. Since president Donald Trump returned to the White House in January, promising to end the alleged discrimination against copyright firms, a field of US-based fintechs—among them Meow , Mercury and Brex —has competed to furnish copyright firms with bank accounts. Khan, who recently raised $25 million for his latest copyright startup, Miden, claims to have been among those courted by the fintechs. The change stands to make it far easier for copyright firms to set up, hire, and do business in the US, in line with Trump’s plan to turn the country into the “ copyright capital of the planet .” Yet they remain at the mercy of the political tide; there has been a vibe change under Trump, but no change in law that would guarantee continued access to banking into the distant future. “Even though there is a more friendly administration in place at the moment, there still hasn’t been anything codified into law—new laws that allow us to be sure the pendulum won’t swing based on who is sitting in the chair,” says Khan.
You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.
With the rise in globalization and the increasing use of web3 infrastructure, businesses are increasingly facing the need to transact in more than their native currency. This shift puts pressure on finance teams to ensure they have the right type of currency in the right account at the right time to conduct business.
Nic Corpora, a Mercury spokesperson, said the company works closely with partner banks “to ensure risk appetites are appropriately calibrated so when we onboard a customer we can support them in the best way and for the long-term.”
Meow collaborated with Bridge to build a solution that enables businesses to send and receive USDC seamlessly from the same platform where they manage all their financial operations.
Silicon Valley Bank, one of the top 20 banks in the US, is seemingly in trouble. And some folks on twitter are recommending moving cash to a fintech named Meow.”
“Before, it was a pain,” said meow com Arvanaghi. “You had to manually map the USDC transaction to a dollar transaction in your ERP. Now it’s all in the same place and we have a one-click integration with your copyright instance. So it’s all done for you.”
Ensuring the authenticity and credibility of new businesses in a more self-service manner was a complex challenge that needed a sophisticated, automated solution to augment the existing team and streamline compliance reviews.
“What we're doing differently is we're treating financial services as a low-margin product,” Arvanaghi says. “We can actually become a profitable company by doing that, but that might not be the case for a company that has a thousand people or another fintech that hired 500 people.”
Meow’s early clients have been other startups such as venture deal platform Sydecar and investing focused social media site Stocktwits. But it plans to go after other types of small-to-medium sized businesses, including professional service firms like dental and law offices.
And in 2024, the company hit profitability and tripled its customer accounts. “Some of the biggest copyright companies in the world are using Meow right now,” said Arvanaghi.
“Meow, when you think about them as kind of a general store for all of these financial products, they're going to have to have their hooks into lots of different things.” Frank Rotman, cofounder of QED Investors
TrueBiz's risk assessments give us added confidence in reviewing and onboarding new businesses in a timely manner."