Fastest growing global finance super app Abound chooses Monad to power its next phase of growth

Abound, a financial services platform for Indians in the US backed by Times Internet, has crossed $500 million in remittance volumes over the past year.The platform, which initially focused on helping users send money to India, has expanded into a broader financial services app for the Indian diaspora in the US. Its services include cross-border transfers, savings and other financial and lifestyle benefits.Abound said it now plans to expand its services to Indians living in other countries and introduce products aimed at helping users manage their finances across borders.As part of its next phase, Abound plans to launch a new wallet that will allow users to transfer money between US and Indian bank accounts and manage multi-currency balances in one place.The wallet is expected to launch in the third quarter of 2026, with a waitlist opening soon. The company said it also plans to add support for more countries.Abound is also planning new savings and investment products, including accounts that offer interest, giving non-resident Indians (NRIs) more options to manage and invest their money.The company also plans to introduce AI-powered features to automate parts of users' financial activities. These will include workflows using the x402 payment protocol, which is designed to support payments made through AI agents.Nishkaam Mehta, CEO of Abound, said the company had moved $500 million since its launch and that its next phase would focus on helping NRIs manage more aspects of their financial lives."Abound has become the platform Indians in the US trust to move money home; we have moved $500 million since launch," Mehta said.Monad, a Layer 1 blockchain platform, will provide the technology infrastructure for Abound's upcoming products. The company said Monad's technology would support its plans to expand services to the global Indian diaspora.Raj Parekh, head of Payments & Stablecoins at Monad Foundation, said Abound was beginning an "ambitious journey" to build a wider range of financial services for NRIs."With its distribution through the Times of India, Abound is starting an ambitious journey to provide a complete suite of agentic financial services and a cross-border platform for NRIs. We're thrilled to watch Abound use Monad's technology to assist them advance into the next phase of their endeavors," Parekh stated.The partnership is expected to form the technology base for Abound's next phase as the company expands beyond remittances and develops more cross-border financial services.Get the latest Business News and Live updates. Download the TOI app.