Circle and Near Invest $14M in Remittances App for Indian Diaspora
The app currently has 500,000 monthly actively users.
What to know:
- Remittance app Abound raised $14 million in a seed round from Circle Ventures and the Near Foundation.
- The app has processed $150 million worth of remittances and has 500,000 monthly active users.
Remittance app Abound raised $14 million in a seed round following investment from crypto heavyweights Circle Ventures and the Near Foundation.
The app aims to be a financial bridge between non-resident Indians (NRIs) and India, and has processed $150 million worth of remittances with about 500,000 monthly active users. Abound is incubated by the digital arm of the Times of India Group, one of the country's largest news agencies.
“Indians in America have a unique financial reality — one that spans two countries, two economies, and two currencies. Yet, the financial services available today weren’t designed for their needs,” said Nishkaam Mehta, CEO of Abound, in a statement.
The investment will be used to scale the business by hiring in several key roles and enhancing its technology infrastructure, a press release said.
Circle is the issuer of USDC, a stablecoin pegged to the U.S. dollar that has a market cap of $59 billion. A 2024 report outlined that the stablecoin sector had settled $10.8 trillion worth of transactions in 2023, of which $2.3 trillion were related to payments and cross-border remittances.
UPDATE (April 1, 15:43 UTC): Removes penultimate paragraph with comment from Circle CFO Jeremy Fox-Geen after company retracts it.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Most Influential: Brandon and Howard Lutnick
The world's biggest stablecoin issuer struggled to maintain banking relationships for a few years and faced accusations it wasn't fully backing its circulating tokens — then one of the world's biggest financial firms, Cantor Fitzgerald, became its custodian.
