Meld, a startup aiming to streamline global digital asset transactions, announced Wednesday it raised $7 million in a funding round led by Lightspeed Faction. The funding, which included participation from F-Prime, Yolo Investments, and Scytale Digital, brings Meld's total capital raised to $15 million.

The company, founded by Pankaj Bengani, a former Block employee, seeks to address the fragmentation within the stablecoin and digital asset landscape. Bengani told Fortune that the current ecosystem is "very fragmented" with numerous blockchains, stablecoins, and payment methods. Meld aims to create a unified network that simplifies the process of buying and settling stablecoins, Bitcoin, Ethereum, and other digital assets for companies and individuals worldwide.

Meld's core objective is to act as a "one-stop shop" for accessing and converting digital assets globally, essentially building a "Visa for crypto," as some industry observers have characterized the ambition. The problem Meld is tackling arises when companies attempt to pay employees internationally using stablecoins. The current system requires navigating a patchwork of regional stablecoin service providers, such as Yellow Card in South Africa and Onmeta in India.

The implications of Meld's approach extend to broader adoption of digital assets in international commerce. By creating a more seamless and interoperable system, Meld could lower the barriers to entry for businesses looking to utilize stablecoins for cross-border payments and other financial transactions. This could potentially reduce transaction costs and increase efficiency compared to traditional payment methods.

The use of artificial intelligence (AI) in Meld's platform was not explicitly detailed in the announcement, but the company's goal of creating a unified network suggests that AI could play a role in optimizing routing, conversion rates, and security protocols. AI algorithms could be used to analyze market data and identify the most efficient paths for converting and transferring digital assets across different blockchains and stablecoin providers.

Bengani did not disclose the company's valuation. The funding will be used to further develop the Meld network and expand its reach. The company's next steps involve onboarding more partners and expanding the range of digital assets and payment methods supported on the platform.