PANews reported on April 2 that, according to The Block, Paris-based stablecoin card issuance infrastructure platform Kulipa has completed a $6.2 million seed funding round, co-led by Flourish Ventures and 1kx, with participation from White Star Capital and Fabric Ventures.

The company helps fintech platforms and crypto wallets issue white-label stablecoin payment cards, handling complex back-office processes such as payment processing, fraud management, pre-funding, and settlement. Since launching its infrastructure in February 2025, Kulipa has issued over 120,000 cards and signed 20 clients, including Flutterwave, Solflare, and Ready, with monthly transaction volume increasing by 70% month-over-month. Kulipa currently operates in the EU, Argentina, and Nigeria and plans to expand into the US market through a bank identification number sponsorship model.