The capital injection comes from a group of investors including Variant, PayPal Ventures, Abstract Ventures, Road Capital, Mirana Ventures, First Commit, and Credibly Neutral, alongside strategic advisor Charlie Songhurst. Atum functions as a marketplace where settlement providers compete to fulfill payment requests, allowing senders and receivers to transact across various chains and stablecoins regardless of their underlying infrastructure.

Founder and CEO Pete Cooling, who previously led the crypto product team at Visa, developed the platform to address the high costs and delays inherent in current cross-border money movement. Unlike traditional systems that rely on proprietary rails, Atum remains neutral by taking no custody of funds and eschewing its own currency. The network currently supports both human-led transactions and agentic payments through protocols such as x402 and MPP. With the infrastructure now live at atum.xyz, the company targets a wide range of participants, including card issuers, fintechs, and stablecoin orchestrators looking for a streamlined, non-agentic settlement solution.