Developers building on the Stellar blockchain with an existing angel investment now have access to matching funds from a $30 million pot introduced today by the Stellar Development Foundation.

The matching fund has a global remit and writes checks up to $500,000.The first investments will be into payroll, remittance, NFTs and cross-border products, according to a press release.Two of its first investments are in Latin America, one is in Africa.Trace Finance, based in Latin America, helps with the remittance process using stablecoins for startups that have received venture funding.Another of the fund’s first portfolio companies, Bitwage, uses crypto and stablecoins to help run international payroll and invoicing more efficiently.“We need to be more nimble and inclusive in order to truly build an industry that reaches more people with better access to financial services," SDF CEO Denelle Dixon said in a statement. "The way we choose to fund and support companies in their early days is a big part of that.”Stellar’s token, XLM, was trading at $0.177 on Tuesday, down 2% on-day according to CoinGecko. It has a market cap of $4.3 billion.

Read more: Stellar Validators Vote In AMM Integration That Could Boost Liquidity