African fintech startup Juicyway has made a significant impact in the cross-border payment landscape, processing over $1 billion in transaction volume for thousands of African businesses over the last three years. The company's success is attributed to its innovative use of stablecoin technology, which enables fast and cheap cross-border payments.

Juicyway's achievement is remarkable, considering it has achieved this feat without a publicly available app or marketing efforts, relying solely on word-of-mouth referrals. The company has processed over 25,000 transactions, generating $1.3 billion in total payment volume from 4,000 users. This milestone marks a significant shift in the traditional cross-border payment landscape, which has long been plagued by high fees and slow transaction times.

Juicyway's model is representative of a new wave of platforms powered by stablecoin technology, challenging conventional methods across developed and emerging markets. The company's success has far-reaching implications for remittance businesses and other industries that rely on cross-border transactions.

In other fintech news, several startups have secured significant funding rounds. Mynt, a fintech company, has raised €22 million in a round led by Vor Capital, valuing the company at roughly €200 million. Upvest announced a €100 million Series C round led by Hedosophia, with a valuation "significantly higher" than its previous one.

KAST, a dollar-denominated neobank-like platform, has raised $10 million in seed investment co-led by Peak XV and HongShan. The platform allows customers to hold and spend stablecoins through traditional payment avenues. CarDekho SEA, a car marketplace, has raised $60 million in equity, valuing the company at over $300 million in its first round of external funding.

Finny, a fintech startup using AI to match financial advisers with prospective clients, has raised $4.2 million in a seed round co-led by Maple VC and HNVR. The funding will be used to grow its engineering team and enhance its product.

The surge in fintech funding and innovation is a testament to the growing demand for efficient and cost-effective payment solutions. As the industry continues to evolve, it will be interesting to see how stablecoin technology and other fintech innovations shape the future of cross-border transactions.

With the holiday season approaching, TechCrunch Fintech will be taking a brief hiatus, resuming on January 7. Until then, stay tuned for more fintech news and insights.