PANews reported on January 31 that according to Business Wire, payment company Cedar Money announced the completion of a $9.9 million seed round led by QED Investors, with participation from North Island Ventures, Wischoff Ventures, Lattice and Stellar. The funds will be used to accelerate the company's mission to leverage modern payment infrastructure to drive changes in stablecoin cross-border payments. Cedar Money aims to address inefficiencies in the traditional agency banking system and use stablecoins to provide faster, more reliable and cost-effective cross-border payments.