Atum completed a $13.5 million financing and launched an open payment network

Atum, the open payment network, announced its exit from stealth mode and completed a $13.5 million financing round, with investors including Variant, PayPal Ventures, Abstract Ventures, Road Capital, Mirana Ventures, First Commit, Credibly Neutral, and strategic advisor Charlie Songhurst. The company connects payment companies, developers, and enterprises through a single coordination layer, does not issue currency, does not operate a blockchain, does not favor specific tracks, and does not hold customer funds.

Atum stated that any integrator, developer, or application can submit payment requests, with settlement providers competing in the market to complete payments on supported chains and stablecoins, offering native authorization, revocable payments, and identity capabilities. The sender specifies the content to be sent, and the receiver obtains the content they request. The network is incentivized based on transaction volume, targeting issuers, acquirers, payment service providers, card organizations, stablecoin orchestrators, wallets, fintech, and enterprises.

Atum supports financial institutions and stablecoin issuers, covering non-agent stablecoin payments, as well as agent-based payments conducted through protocols like x402 and MPP. Founder and CEO Pete Cooling previously led Visa's crypto product team and served as Visa's representative at the Linux OpenWallet Foundation. The company is now open to builders, with the website at atum.xyz.