Due

Based in London, Due is a financial technology company established in 2022 by co-founders Robert Sargsian and Alex Popov. Sargsian, the CEO, drew upon his experiences at Bolt and Revolut, where he witnessed firsthand the inefficiencies and high costs of global payments, particularly in emerging markets. This experience motivated the creation of a platform to address the fragmentation in the financial system.

Due operates a payment platform that connects domestic payment systems across the globe using blockchain technology and stablecoins. The company targets a diverse client base, including businesses and individuals involved in e-commerce, gaming, travel, import/export, and marketplaces. Its business model centers on providing a more cost-effective alternative to traditional cross-border payments, claiming to reduce processing fees from the standard 4-6% to 0.5-1%. Revenue is generated from these transaction fees.

The core service is a borderless, multi-currency account that enables users to send and receive payments globally. A key feature is the platform's non-custodial nature, meaning users maintain complete control over their funds through a personal wallet, enhancing security and independence from intermediaries. The system facilitates instant fund transfers and settlements in stablecoins like USDC or local currency in over 80 countries, typically within 24 hours. The platform integrates with various payment methods, including bank transfers and mobile money, and emphasizes security through biometric authentication and cryptographic key transaction signing. Since its inception, Due has secured $10.6 million in funding over two seed rounds, with the latest round led by Speedinvest.

Keywords: cross-border payments, fintech, stablecoin payments, blockchain finance, multi-currency account, global remittances, non-custodial wallet, merchant acquiring, low-cost international transfers, decentralized finance, payment platform, emerging markets finance, Robert Sargsian, Alex Popov, digital dollar, local currency settlement, international trade payments, global commerce, e-commerce payments, travel industry finance