Sling Money Launches US and European Virtual Accounts in Partnership with Bridge to Expand Global Earning Power
AMSTERDAM--(BUSINESS WIRE)--May 22, 2025--
Sling Money, the app making global money movement instant and low-cost, today launched US and European Virtual Accounts, marking an expansion beyond peer-to-peer transactions to enable users to receive payments for freelance, project-based, or salaried work with ease. These accounts are provisioned by Bridge, a regulated financial infrastructure provider recently acquired by Stripe for $1.1 billion.
Sling Money users around the world can now access a US account and routing number or a European IBAN, meaning they can get paid like a local in both USD and EUR, directly into their Sling Wallet. USD accounts leverage ACH and wire rails, while EUR accounts operate over SEPA — including SEPA Credit and SEPA Instant — to ensure fast, reliable deposits.
Bridge automatically converts incoming payments into USDP (Pax Dollar) or EURC (Euro Coin) and transfers them into the user's Sling Wallet. From there, users can choose to hold incoming payments as stablecoins within the app, withdraw them as stablecoins — including USDC, USDP, and EURC — or convert them into local currencies for a negligible fee via Sling Money's extensive network of instant payment partners.
This feature unlocks a new level of utility for freelancers, remote workers, global nomads, creators, students studying abroad, and cross-border families who previously relied on slow, fee-laden intermediaries to receive international payments. With Virtual Accounts, users can now receive wages, payouts, reimbursements, or transfers natively.
'This is one of the first times a consumer wallet has made it possible for users worldwide to receive payments from the US and Europe using local account details, instantly tokenize those funds into stablecoins, and then move or spend that money globally — all within a single app,' said Mike Hudack, co-founder and CEO of Avian Labs, Sling Money's parent company. 'Sending money is only half the equation for an inclusive global financial system. Now, we're making it just as easy to get paid.'
The access to both real-time, low-fee transfers and Virtual Accounts makes Sling Money a complete solution for modern global earners. For senders, paying into a Sling Money account feels just like making a regular deposit.
Since its launch, Sling Money has expanded its global footprint across the U.S., Europe, Africa, and beyond, enabling users to send, receive, and convert funds in seconds using stablecoin technology and fiat integration. Recently, Sling Money also secured its Markets in Crypto Assets Regulation (MiCA) license and introduced EURC (Circle's euro-backed stablecoin), a testament to its compliance and growth in Europe.
About Sling Money
Sling Money is building a world where sending and receiving money is effortless. The app leverages stablecoin and real-time payment technology to allow people to move money anywhere, in any currency, nearly instantly and for a negligible fee. Sling Money makes global transfers easy by enabling users to pay people, not anonymous account numbers. It's available in 145+ countries on the Android and iOS app stores. An Avian Labs product, Sling Money was founded by Mike Hudack and Simon Amor, who have decades of product engineering and design experience. Learn more at www.sling.money.
View source version on businesswire.com:https://www.businesswire.com/news/home/20250522678554/en/
CONTACT: Media Contact
Sasha Temerte,[email protected]
KEYWORD: EUROPE UNITED STATES NETHERLANDS NORTH AMERICA
INDUSTRY KEYWORD: SOFTWARE BANKING MOBILE/WIRELESS INTERNET PROFESSIONAL SERVICES BLOCKCHAIN FINTECH PAYMENTS APPS/APPLICATIONS TECHNOLOGY CRYPTOCURRENCY FINANCE
SOURCE: Sling Money
Copyright Business Wire 2025.
PUB: 05/22/2025 08:16 AM/DISC: 05/22/2025 08:16 AM
http://www.businesswire.com/news/home/20250522678554/en
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
24 minutes ago
- Bloomberg
UK Will Launch Market for Private Share Sales Later This Year
The UK will launch a new market for private companies selling shares later this year, which regulators say will give firms access to more investors without the hurdles of a stock market listing. The Financial Conduct Authority said the Private Intermittent Securities and Capital Exchange System, or PISCES, will only be available for institutions and individuals willing to take on high-risk investments, as well as employees of participating companies.
Yahoo
29 minutes ago
- Yahoo
New stock market for shares in private companies to open in UK
A new type of stock market will open in the UK later this year, allowing investors to trade shares in privately-owned companies — as opposed to those that are publicly owned and listed, for example on the London Stock Exchange (LSE). Referred to as Pisces — which stands for a Private Intermittent Securities and Capital Exchange System — the first trading could begin on the new stock market in the next few months after the Financial Conduct Authority (FCA) approved the rules around it. The FCA hopes the move will support the UK economy by giving more choices to the investment community and attracting new funds for growing businesses. Although Pisces has already officially launched, trading cannot begin until companies who will act as operators start their platforms, which are subject to licences. With more companies choosing to stay private for longer, the new trading system was created to give investors access to businesses they otherwise could not fund, and to allow those holding shares in private businesses the chance to cash out. That can be as a result of shares being given as part of an employment package, for example, or by being an investor in an earlier round of private fundraising — which isn't always accessible to private investors. Pisces is set up in the FCA's sandbox environment to allow for experimentation on what works, what is required and what best practice will turn out to be. The plan is for around a five-year developmental phase, during which time testing and adjusting will take place with the framework, ahead of permanent rules being established in 2030. While Pisces is the framework for the stock exchange itself, individual operators will operate the ability to trade — comparative to now, for example, in how people with an investing Isa on an app or with their bank go through them to buy or sell companies or funds listed on the LSE. Those operators will have flexibility on the type of private companies they list; the FCA expect some may operate by size or industry, or perhaps on timing of share sales. Shares may be available to buy quarterly or annually in different private companies, for example, or during set windows according to their need. While the new private stock market is largely welcomed, investors will need to be aware of the additional risks which may be involved, compared to putting money into listed companies. Legislation exists to demand retail investors have a certain amount of knowledge before parting with their money, but this includes being 'self-certified' according to investing experience. Additionally, while public stock markets are heavily regulated — one of the reasons companies stay private instead of floating — the idea for this sandbox platform is to stay similar to private market processes and laws. As a result, for example, the process known as insider trading will not apply in the same way, potentially leading to an imbalance of information between those privately investing and institutional, professional investors. Emma Reynolds, economic secretary to the Treasury, said: 'Pisces is a great example of industry, regulators and the government working together to go further and faster on innovative reforms to strengthen UK capital markets, supporting economic growth and putting more money in people's pocket as part of our Plan for Change. 'I welcome the FCA's announcement, which follows our legislation and opens Pisces to industry. This also builds on our announcements on a Stamp Taxes on Shares exemption for Pisces transactions, and on employees retaining the tax advantages on eligible shares traded.' Simon Walls, executive director of markets at the FCA, added: 'This bold design rebalances risk, but it is bold risk taking that made the UK the leading financial centre it is today. The new platforms will give investors greater access and confidence to invest in exciting new companies, while early backers and employees can sell up and invest again. 'Pisces is the latest step in the FCA's wide-ranging reforms to the UK's markets to boost growth and competitiveness.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
33 minutes ago
- Yahoo
OPINION - Rachel Reeves must not ignore London's vital role as engine of the British economy
Finding a cure for UK's anaemic growth cannot come soon enough. But the challenge to the Chancellor will be to ensure tomorrow's treatment via the Spending Review doesn't kill the patient. London is the beating heart of the UK economy. But for the UK to be fit for the future prosperity must rise right across the country. The UK's financial and related professional services industry is an unparalleled national asset. Sustainable economic growth would be impossible without it. His Majesty's Treasury is well aware of this, and we look forward to welcoming the industrial strategy imminently. Meanwhile, at the City of London Corporation, we continue to work closely with Government to drive inward investment, which is the lifeblood of productivity growth needed for raising people's living standards. Investor confidence in the UK - and in London - is strong. Our time zone, language, rule of law and stable political environment are all standout reasons. Turbulence abroad creates opportunities at home. This month alone, London is playing host to SXSW for the very first time; London Tech Week; the Concordia Europe Summit and London Climate Action Week. Just last week Howard Dawber addressed firms here in the City about the investment opportunity for London at BusinessLDN's annual conference. By any economic measure, London remains the engine of the UK economy. The City of London alone produces more than £110 billion in annual economic output, and its workers are nearly twice as productive as the national average. Since the financial crisis, through the years of criticism aimed at the banking sector and the uncertainty following Brexit, London has often been left to carry the weight of driving the UK economy largely on its own. Let me be clear; a thriving London is not the enemy of regional prosperity, it's a key enabler. The City remains a magnet for global capital; a hub for high-growth firms, and a gateway for international talent. Since the pandemic, jobs in the Square Mile have risen by 25%. Nearly half of City workers come from overseas, helping drive the dynamism the UK needs to compete globally. Nowhere is this more evident than in tech. Across the ocean, from fintech and AI to biotech, UK firms are achieving global leadership. But we can go further and faster here too: implementing a scalable, secure Digital Verification Service (DVS) can boost security, reduce fraud, and streamline financial services. City Corporation research ranks London second in the world for innovation in financial services ecosystems, just behind New York. Meanwhile, the UK's role in cross-border banking remains unrivalled in Europe, with clients worldwide continuing to choose London to move capital and manage risk. We remain world-leading. But with New York and Singapore vying for an even greater share, we cannot be complacent about fuelling London as the UK's engine of growth. With that in mind, this week we're launching the City Business Investment Unit, a bespoke concierge service to attract, retain and grow firms in the Square Mile. It sends a clear message: London is open, ambitious and ready to grow. Because when London succeeds, the rest of the country benefits. What's needed now is a national policy environment that doubles down on London's strengths: a fair and agile immigration system to plug persistent skills gaps; accelerated planning and infrastructure funding to keep pace with growth; and swift, equitable access to GB Energy funding to deliver on net zero. Yes, we live in uncertain times, but that is all the more reason for the Chancellor to reinforce London's role as a global capital and the UK as the world's number one investment destination when she steps up to the despatch box. The Spending Review will involve difficult choices. But some decisions should be easy. The City's contribution to the public purse, through taxes, jobs, and investment, is unmatched in scale and impact. Investing in London isn't about favouring one region over another, it's about backing the entire country to succeed. Chris Hayward is the Policy Chairman at the City of London Corporation Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
