Munify
Munify is a cross-border neobank providing USDC-powered payments, multi-currency accounts, and virtual card issuance, primarily serving the Egyptian diaspora while expanding across MENA, GCC, and the Philippines via Circle Payments Network integration.
- Company typePrivate
- Founded2024
- HeadquartersDover, United States
- Headcount1–10
- GTM typeB2B and B2C
- OfferingSoftware
What Munify does
Munify is a cross-border neobank built for the Egyptian diaspora and expanded to global workers and businesses, headquartered in Dover, Delaware with operational presence in Cairo and a Y Combinator reference office in San Francisco. Founded in 2024 by Khalid Ashmawy (previously founder of Huspy, ex-Microsoft and Uber), the company combines fiat banking rails with USDC stablecoin rails to deliver faster, lower-cost cross-border payments than traditional remittance channels.
The platform's core product surface includes multi-currency accounts (currently USD, with EUR and GBP announced), a non-custodial wallet where users hold their own keys, USDC virtual cards for online and in-store spending, and Send/Receive money flows for global transfers. On the infrastructure side, Munify offers RESTful APIs for Payouts, Pay-ins, and Card Issuance, including a white-label card program targeting GCC corporates across KSA, UAE, Bahrain, Qatar, Oman, and Kuwait. The technology stack supports eight blockchain networks for stablecoin settlement and integrates with Circle Payments Network for USDC-powered local payouts, while US fiat and digital-asset services are delivered through partner banks including Lead Bank, Cross River Bank, Paxos Trust Company, and System Pay Services.
Munify generates revenue primarily through transaction and FX fees (2.5% on non-USD FX, $0.20 per ACH received, $10.10 per wire received, 0.1% for stablecoin conversions) on the consumer side, and usage-based B2B API fees from platforms, marketplaces, and enterprises integrating its cross-border payout, pay-in, and card issuance infrastructure. Distribution is mobile-first (iOS and Android apps) for consumers and API-first for businesses, with go-to-market centered on the $30B Egypt remittance corridor and recently extended to the $40B Philippines market via Circle CPN. The company is venture-backed (Y Combinator S25 batch) with $6 million in cumulative seed funding as of June 2026 and holds in-principle DFSA approval for UAE operations.
Munify firmographics
Firmographics- Name
- Munify
- Legal name
- Munify Corporation
- Website
- https://munify.ai
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Munify is a cross-border neobank providing USDC-powered payments, multi-currency accounts, and virtual card issuance, primarily serving the Egyptian diaspora while expanding across MENA, GCC, and the Philippines via Circle Payments Network integration.
- Ownership category
- akta.pro rank
Munify industry classification
Industry- Product category
- Cross-Border Payments / Neobanking
- NAICS
- Credit Card Issuing (522210), Credit Card Issuing (52221)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)
- akta.pro primary industry
- Crypto/Web3 Neobanks (FSABAFAG)
- akta.pro secondary industries
- Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), Crypto Card Issuing & Card Programs (Debit/Credit/Prepaid) (FSADAIAC), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ)
Keywords
Where Munify is headquartered
LocationHeadquarters
- HQ city
- Dover
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Munify business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure, Others
Revenue model
- Transaction and FX Fees: Munify charges 2.5% foreign exchange fee on non-USD transactions, $0.20 per ACH transfer received, $10.10 per wire transfer received, and 0.1% for stablecoin conversions. Card issuance is free.
- B2B API/Platform Fees: Business customers including platforms and enterprises integrate Munify's APIs for cross-border payouts, pay-ins, and card issuance services, likely generating usage-based or per-transaction revenue.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Free card issuance with 2.5% FX fee on non-USD transactions |
| Usage-based | Pay-as-you-go | USD account with deposit and transfer fees |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Munify product offering
Product offeringCore offering
Munify is a cross-border neobank that combines fiat and USDC stablecoin rails to deliver low-cost, instant international money movement for individuals and businesses. Its consumer offering includes multi-currency accounts (USD, EUR, GBP), a non-custodial wallet, USDC virtual cards, and cross-border send/receive functionality. Its business offering exposes Payouts, Pay-ins, and Cards Issuance APIs that enable platforms and enterprises to execute cross-border disbursements, accept multi-currency payments, and issue virtual corporate cards across 80+ countries.
Product overview
Munify is a cross-border neobank offering a unified platform for global money movement. The core product portfolio includes multi-currency accounts (USD with EUR/GBP coming), non-custodial wallets, USDC virtual cards, send/receive money transfers, and invoices. Infrastructure offerings include Payouts, Pay-ins, and Cards Issuance APIs for business partners. The platform combines fiat and stablecoin rails (particularly USDC via Circle Payments Network) to enable faster, lower-cost cross-border payments. The company targets the Egyptian diaspora initially (the world's 5th-largest remittance corridor at $30B annually) with expansion across MENA, Asia, and Africa.
Differentiator
Problem solved
Functional benefit
Products and services
- Multi-Currency Accounts Account product that lets users hold and manage multiple currencies (currently USD, with EUR and GBP coming soon) in a single balance and swap between them instantly. Designed for freelancers, remote workers, and global businesses needing on-demand USD, EUR, and GBP exposure without traditional banking residency requirements.
- Non-Custodial Wallet Self-custody digital-asset wallet in which users hold their own private keys, giving them full control and ownership of funds rather than relying on Munify as custodian. Targeted at users in emerging markets who want crypto-grade control without giving up regulatory protections on fiat balances.
- USD Virtual Cards Instantly issued virtual cards backed by USDC that support spending in any currency, unlimited card creation, and customizable per-card spending limits with real-time tracking. Users can top up in USD and pay globally online or in-store without a traditional bank account.
- Send (Cross-Border Transfers) Product feature that lets users send money across borders in seconds, supporting multiple currencies and assets including fiat and USDC. Enables transfers to partners, vendors, teams, or family members worldwide.
- Payouts Infrastructure (API) API-based infrastructure product that enables businesses to send payments to recipients across multiple countries with instant settlement. Supports payouts to wallets, bank accounts, and prepaid cards across the MENA region and additional corridors, with comprehensive endpoints (Initiate Payout, List Payouts, Balance Inquiry, Webhooks).
- Pay-ins Infrastructure (API) API-based infrastructure product that lets businesses accept payments from customers via multiple channels, including bank transfers, wallets, and cards. Supports multi-currency acceptance with real-time processing and conversion, enabling platforms to collect funds globally.
- Cards Issuance Infrastructure (API) Card-issuance APIs that allow businesses to issue, manage, and customize virtual corporate cards. Covers employee expenses, payroll, loyalty programs, travel cards, payouts to unbanked populations, and freelancer disbursements. Available across KSA, UAE, Bahrain, Qatar, Oman, and Kuwait.
Quantifiable outcome
- Traditional remittance to Philippines costs 5.7% per $200 transaction; Munify's stablecoin-powered settlement offers lower-cost alternative
- +3 more outcomes
Companies that use Munify
Customer profileSegments3 records
Ideal customer profiles3 records
Munify technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature5 records
Munify partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core.
- Circle Internet Group / Circle Payments Network (CPN)coreMunify integrated with Circle Payments Network to enable USDC-powered local payouts into the Philippines. Users can receive funds globally in USDC and convert to Philippine pesos for payout to local bank accounts and digital wallets. CPN is operated by Circle Technology Services, LLC, an affiliate of Circle Internet Group (NYSE: CRCL).
- Dubai Financial Services Authority (DFSA)coreMunify received in-principle approval for a license in UAE from DFSA. This regulatory milestone enables Munify to offer regionally compliant financial solutions and partner with local banks, payment providers, and fintechs in the GCC.
- Paxos Trust CompanycorePaxos Trust Company, NA (a national banking association regulated by OCC) may provide Digital Asset Wallet or Stablecoin Payout Service in certain jurisdictions. Users must accept Paxos terms and Privacy Policy.
- Lead BankcoreBanking partner providing Fiat Virtual Account services. Users must accept Lead Bank terms and Privacy Notices. Lead Bank is a regulated financial institution.
- Cross River BankcoreBanking partner providing Fiat Virtual Account services. Users must accept Cross River Bank terms and Privacy Notices. Cross River Bank is a regulated bank.
- System Pay Services (SPS)coreSPS US Embedded Terms of Service govern Digital Asset Services including Digital Asset Wallet, Fiat Virtual Account, and Stablecoin Payout Service. SPS is a registered Money Services Business (NMLS ID: 2531294).
Scale indicators7 records
Recent moves8 records
Expansion highlights6 records
Munify competitors and assessment
Company assessmentDirect peers
- LemFi: LemFi (formerly Lemonade Finance) is a cross-border neobank targeting African and MENA diaspora with multi-currency accounts and remittance — the closest direct competitor to Munify in product, geography, and target customer.
- Taptap Send: Taptap Send is a mobile-first remittance app serving diaspora corridors including MENA, with a comparable product-led growth approach and pricing-based competitive position versus Munify.
- Payoneer: Payoneer is a cross-border payments platform serving freelancers, marketplaces, and SMBs with multi-currency accounts and payouts — directly comparable to Munify's B2C freelancer and B2B API use cases.
- Chipper Cash: Chipper Cash is a cross-border mobile payments platform for African diaspora with P2P and business payments — a direct peer in the cross-border neobank-for-diaspora category targeting emerging markets.
- Nium: Nium is a B2B cross-border payments API platform offering payouts, pay-ins, and card issuing — directly comparable to Munify's infrastructure/API product offering for platforms and enterprises.
Broad incumbents
- Wise: Wise is a public, well-capitalized cross-border payments incumbent offering multi-currency accounts and cheap FX transfers — the benchmark cost leader whose 5.7% Philippines corridor economics Munify aims to undercut.
- Revolut: Revolut is a global neobank with multi-currency accounts, virtual cards, and cross-border transfers serving millions of users — a broad incumbent that competes on the same multi-currency/spend value proposition as Munify.
- Remitly: Remitly is a publicly listed digital remittance company focused on diaspora corridors including Egypt and the Philippines — a broad incumbent competing directly with Munify's core remittance product.
Regional players
- Pyypl: Pyypl is a MENA-focused digital payments and banking app targeting unbanked and underbanked populations — a regional peer with comparable MENA focus and remittance-adjacent use cases.
Others
- Circle: Circle is the issuer of USDC and operator of the Circle Payments Network used by Munify for stablecoin settlement — an enabler/platform partner rather than direct competitor, but strategically critical to Munify's value proposition.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key highlights6 records
Customer concentration
Munify social profiles
Digital presenceMunify compliance and trust
Trust signalCompliance1 record
Munify financial estimates
Financial estimateRevenue estimate
Valuation estimate
Munify leadership team
Management profileNumber of profiles
Profiles1 record
Munify funding detail
Funding detailFunding overview
Funding rounds1 record
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Munify M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Munify
What does Munify do?
Munify is a cross-border neobank that combines fiat and USDC stablecoin rails to deliver low-cost, instant international money movement for individuals and businesses. Its consumer offering includes multi-currency accounts (USD, EUR, GBP), a non-custodial wallet, USDC virtual cards, and cross-border send/receive functionality. Its business offering exposes Payouts, Pay-ins, and Cards Issuance APIs that enable platforms and enterprises to execute cross-border disbursements, accept multi-currency payments, and issue virtual corporate cards across 80+ countries.
Is Munify a public or private company?
Munify is a private company. It is classified as venture growth investor backed and is currently operating.
When was Munify founded?
Munify was founded in 2024. It employs 1 to 10 people.
Where is Munify based?
Munify is headquartered in Dover, United States, in the North America region.
How does Munify make money?
Two revenue lines are on record. Transaction and FX Fees are the primary driver. The others are B2B API/Platform Fees.
Who are Munify's main competitors?
Direct peers on record are LemFi, Taptap Send, Payoneer, Chipper Cash and Nium. Broad incumbents are Wise, Revolut and Remitly. Pyypl is listed as a regional player. Circle is listed as an others.
Does Munify have an API?
Yes. Munify offers a REST-based Cross-Border Payout API that enables businesses to send payments to recipients in multiple countries. The API supports payouts via wallet, bank account, and card. Endpoints include Initiate Payout, List Payouts, Balance Inquiry, and Webhooks for payout status updates. Authentication uses X-API-KEY header. Security includes HMAC-SHA256 signature verification for requests. A sandbox environment is available for testing. Developer documentation is at docs.xp.munify.ai.
What industry is Munify in?
Munify's product category is Cross-Border Payments / Neobanking. Its primary akta.pro industry code is FSABAFAG, Crypto/Web3 Neobanks, with a secondary code of BPAMAFAL, Crypto Payments & Stablecoin Settlement Platforms. Its NAICS code is 522210 and its SIC code is 6200.