Why we invested
Cross-border settlement is a licensing problem disguised as a software problem. The founders understood this and built the regulatory perimeter first, the product second.
That sequencing cost them a year of visible progress and bought them roughly a decade of defensibility. We were comfortable underwriting the delay because the team had done it once before inside a bank, and because our Singapore office could diligence the licences directly.
Liquid Ledger now moves treasury flows across eleven corridors that most competitors still cannot legally touch.
Our involvement
- Round led
- Series A, $22M
- Corridors live
- 11
- Licences held
- 6