Cross-border payments can still take as long as five days to reach recipients, as transfers are routed through a range of banks and financial institutions. Riva’s mission is to address the high costs and slow settlement times associated with cross-border transfers and build the next generation of payment services for businesses. In this way, Riva also creates an infrastructure that overcomes the often unfavourable exchange rates offered by banks and legacy providers, while introducing modern technology to outdated legacy systems that have seen little innovation over the last decades.

Riva was founded by Niklas Hoejman and Mahendra Katoch, two fintech professionals with deep expertise in cross-border payments, who worked at Revolut and Wise, as well as Goldman Sachs and Citigroup. Even while working for payment innovators, they saw how legacy systems still caused delays, inflated costs, and offered limited transparency, often making the client experience frustrating and opaque. As expats and regular users of international payment services, they also felt these limitations personally, convincing them to build a better way to move money globally.

Faster, cheaper payments

Riva leverages blockchain technology – with stablecoins as a key application – to power infrastructure for international payments. Depending on what is most effective for the client, transfers will be routed either via blockchain-based rails or through traditional fiat-to-fiat rails. This flexibility will allow Riva to provide customers with the best option for their money transfers, depending on their location and specific circumstances.

Institutional and innovative

Regulators and governments around the world are becoming increasingly favourable to digital assets, with US, European and UK governments bringing forward legislation that will drive stablecoin adoption, while putting in place guardrails to protect users. Stablecoin is seen as a more efficient way to transfer value as the global cross-border payments market, valued at $212 billion in 2024, is projected to reach $320 billion by 2030, growing at a 7% CAGR (according to a research study by Grand View Research). The market is driven by demands for faster, cheaper transactions, while emerging trends – such as increasing data exchange standards between financial institutions, the adoption of digital currencies, and improvements in cross-border payments - are further accelerating industry growth.

As a first step in its global regulatory expansion, Riva is currently in the process of obtaining authorisation as a payment institution across the UK and the EU, as well as MICA and VASP licences in the EU and Switzerland.

Niklas Hoejman, Co-Founder and CEO of Riva Money, said: “Our mission is simple: to enable businesses' limitless global money movement, instantly and at a fraction of the cost.

“By combining blockchain technology with a robust regulatory framework, we’re building a solution that offers businesses the speed, transparency and cost-efficiency they need to thrive in today’s interconnected economy.”

Malin Posern, Partner and Managing Director at Project A, said: “With stablecoin adoption accelerating and regulatory frameworks maturing globally, the time is right for an infrastructure rethink. Riva's dual-rail system for businesses elegantly solves for both speed and flexibility in a market that's still reliant on legacy processes. Niklas and Mahendra's deep expertise in payments and financial markets positions Riva perfectly to build the next generation of payment services.”

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