Egyptian Blockchain enabled Fintech entity Munify, building a cross border digital bank tailored to MENA expats, offering low cost remittances to Egypt, including stablecoin backed virtual cards, has raised $3 million in a seed round led by Y Combinator with participation from BYLD and Digital Currency Group, alongside other strategic investors.

Munify recently graduated from YC’s Summer 2025 batch. Its platform offers instant, low-cost remittances to Egypt, the ability to open U.S. bank accounts, issue debit cards, and tools to hedge against local currency volatility. Munify’s services are already available in the U.S., U.K., Europe, and the GCC, targeting freelancers, SMEs, and Egyptians living overseas who face high remittance fees and delays in settlement.

Munify is built on blockchain technology, enabling individuals and businesses to hold multiple currencies, send and receive instantly and use stablecoin backed virtual cards.

The new capital will be used to scale engineering and compliance teams, strengthen regulatory and banking partnerships, and expand into additional markets.

“Remittance flows are one of the most critical financial lifelines for Egypt, yet millions still face costly, slow, and fragmented services,” said Khalid Ashmawy, Founder and CEO of Munify. “We’re building the infrastructure to make global banking and payments radically more accessible for Egyptians, wherever they live.”

One of the most interesting investors is Digital Currency Group (DCG), a Connecticut-based venture capital firm founded by Barry Silbert in 2015 to build and support companies in the digital currency and blockchain ecosystem.