Crypto-enabled money transfer fintech Sling Money makes transfer effortless and free!

Stablecoin-centric money transfer app, Sling money, has just raised a $15 million seed round led by Union Square Ventures, Ribbit Capital and Slow Ventures. Transfering your money has never been easier with the Sling app, which combines stablecoin technology to enable you to make faster and safer money transfers at an almost negligible price regardless if they are next to you or 3000 miles away from you! With Sling, you can send money to anyone in seconds with just a few taps on your phone.

A faster and more secure transfer

One of the greatest pain of money transfer is when you send your money to the wrong person. And this is a issue Sling is trying to mitigate with its application. When transferring money to your friends, you can easily find them through the application's global directory just by searching their name or username. Sling also has its own verification function, which is the blue tick that you can see beside your friend's profile photo. You can also check a person's profile photo or check the name to ensure that you are sending your precious money to the right person.

If you are unable to find your friend through the general search, you can invite your friends over to the application through a personalised code which allows your friend to enjoy the benefits of skipping the waitlist by using the unique invite code that you sent to them.

Traditionally, transfers like these often cost the sender a percentage of each transaction and are settled over hours or even multiple days. Sling completes the transfer your money almost instantly, and there are little or no fees. With Sling, users can easily send money instantly across different countries to other users, between their own accounts in just matter of seconds. Imagine being able to transfer money from Paris to London, then on to Stockholm and Amsterdam for free.

But what if my friend isn't on Sling

So how can you still use the Sling app if your friend isn't on the Slingapp? Well, as mentioned previously, you can always send them an invitation to the app and have them join the app without having to go through the waitlist.

You can also send your money to your friends through the Sling link that you can find in the application, which you can then share through your favourite messaging app. Your friend simply has to provide their bank details and name to withdraw the digital cash.

Owning your own money

One of the things about your account on the Sling wallet is that they offer what the industry would call a self-custodial wallet. This means that you actually own and control your wallet and wallet contents. This is very different from traditional financial products where money is deposited with a third-party which can access their users account whenever they want and exert control over that money.

Another feature that Sling offers is also portability. This means that users can export their wallets from Sling and import them into other wallet software providers like the Phantom Wallet. When you do this, all of your money and transactions are also transferred over to the other application. Again, this gives the users full control over their assets instead of putting that power into the hands of the banks or the payment providers.

Global expansion

As of now, Sling only works in 30 countries in Europe. But the platform is planning to ship and grow the platform into the world's first universal P2P payments application.

Right now, the company is planning to explain its coverage into South America and countries like Mexico, Brazil, Argentina, Colombia,Chile and Costa Rica. But the company is still in the midst of testing phase in this country, and users would have to still wait out before their products can be fully fledged out in these countries.

Creator of the Sling project

Mike Hudack, CEO and co-founder of Avian Labs, the parent company behind Sling Money. Hudack was previously the Chief Product Officer at Monzo Bank, CPTO at Deliveroo, and a Director of Product at Facebook. With his experience at these big companies, Hudack also has the expertise of building social software for millions of people and building a financial product, which is basically the heart of Sling.

Hudack's Socials:

X | LinkedIn

Part of building the future

While Sling continues to expand its services to more countries around the world, we are moving towards a world where we can transfer money from one country to another in a matter of seconds for almost free, although we are not quite there just yet. But for the time being, Sling is in the midst of building the future and we can look forward to more of what it can provide.