Riva

Riva is a cross-border payment platform that helps businesses send and receive money internationally. It combines traditional banking systems with blockchain-based stablecoin rails, automatically selecting the most efficient route for each transaction to reduce costs and settlement times.

The core value proposition is unified access to multiple payment networks through a single API. This addresses the fragmentation in the current market, where businesses often need to integrate with multiple providers to handle different currencies and corridors. The platform also handles regulatory compliance and FX conversion as part of the service.

The main pain point Riva solves is the inefficiency of traditional correspondent banking, which can take days and involve hidden fees. By using stablecoins as an intermediate bridge, Riva can offer faster settlement and more transparent pricing, while still converting to and from fiat currencies for the end customer.

In the past six months, Riva has obtained a Payment Institution license from the Swedish Financial Supervisory Authority. This regulatory approval allows the company to operate across the European Economic Area through passporting rights. The company has also been preparing for its commercial launch, with initial focus on European markets. No significant negative developments have been reported during this period.