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Under a president who has installed pro-copyright regulators and pledged to end the alleged Operation Chokepoint 2.0, that risk feels remote. But what about after Trump? “From a risk management point of view, I don't think it's prudent for a company like ours to have solely accounts with American fintechs,” says McIntyre.
Businesses can also programmatically send USDC from within Meow and generate unique addresses on Ethereum and Solana to collect invoice payments. That means businesses can accept vendor payments via wire or standard bank rails, such as ACH, and the business can receive that money in USDC without having to expose address details publicly.
Editor’s note: This story was updated to reflect the fact that Mercury and Brex offer customers returns through money market mutual funds, not high yield bank accounts.
When he decided to start his own company, he called up his buddy Crawford, who by then held a well paid gig as a senior software engineer at Facebook (now Meta) in New York. Crawford gamely quit his job and moved to Miami.
To achieve this, Meow needed a stablecoin solution that could deliver seamless account onboarding, direct access to USDC liquidity, smooth integration into customers’ existing financial stacks, and ultra-low transaction costs. But several structural and operational barriers stood in the way:
Bridge understood the opportunity immediately and went above and beyond to help us roll out this capability in less than a month. We were first to market, but this is just the beginning, and we look forward to continuing to partner with Bridge as we keep on building.”
Matrixport is a platform that provides financial services for cryptocurrencies. The company offers services including earning interest on copyright, investing in digital assets, trading, and providing loans.
That money had been raised to support a platform Arvanaghi and Crawford had built allowing startups and small businesses to use their spare cash to earn yield by lending money to institutional copyright operations that themselves did lending and trading.
Meow was born in early 2021 in a Miami apartment where Arvanaghi and Crawford were holed up writing code and cold-calling investors. The duo had become friends at Vanderbilt University while both were studying computer science. They overlapped briefly at copyright exchange copyright where they were both engineers before Arvanaghi left for a stint at a bitcoin mining company.
“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, 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,” says Frank Rotman, cofounder of QED and a lead investor in Meow’s 2022 fundraising.
It was both a prudent and gutsy decision. Prudent, because after the collapse of stablecoin TerraUSD in mid-May of 2022, they began hearing rumors that copyright hedge fund Three Arrows Capital would go bankrupt — which it soon did, eventually bringing a bundle of connected firms down. Gutsy, because just weeks before, they had closed a $22 million series A fundraising round from investors including Tiger Global, QED and yes, FTX itself.
“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
The second act they devised is as far from copyright as you can get, yet still exploited the fintech platform they’d built to collect and deploy small businesses’ cash. meow business In March 2022, the Federal Reserve had begun raising interest rates to quash inflation. Now, the young founders realized, boring old Treasury bills were becoming a newly attractive place for businesses to park their idle cash.