ChainCatcher news, stablecoin payment platform Sling Money announced the completion of a $15 million Series A funding round, led by Union Square Ventures, with participation from Ribbit Capital and Slow Ventures. This round of funding will help Sling Money advance its mission of global payments. Transfers on Sling Money use Pax Dollar (USDP), a dollar-backed stablecoin issued by Paxos Trust Company. USDP and its reserves are strictly regulated by the New York State Department of Financial Services.Sling Money leverages stablecoin technology and a user-friendly interface to enable users to make instant transfers between over 50 countries, with almost zero fees. The company previously raised $5 million in a seed round led by Ribbit Capital.

ChainCatcher news, Paxos is collaborating with Latin American e-commerce giant Mercado Libre to launch a regulated Pax Dollar in Mexico. Paxos stated in a release on Wednesday that this dollar-backed stablecoin will be available to all customers in the country on the Mercado Pago payment platform.It is reported that Mercado Pago has nearly 40 million active users and is the leading online payment provider in Mexico. Paxos stated that this collaboration represents a continuation of its investment in Latin America. (Source link)