Trace Finance raises $32M for cross-border stablec
Trace Finance raises $32M for cross-border stablecoin Stablecoin settlement infrastructure company Trace Finance has raised $32 million in a Series A funding round led by CoinFund.Coinbase Ventures, Jump Capital and Paxos were among the investors that participated in the round, the company said Wednesday in a statement shared with Cointelegraph.Trace Finance provides banking, foreign exchange and stablecoin settlement infrastructure for cross-border payments across Latin America. It claims to have processed more than $10 billion in transaction volume and plans to use the fresh capital to expand across LatAm, the US and Asia-Pacific markets.
The funding comes as stablecoin settlement increasingly moves into regulated financial infrastructure, with companies racing to connect blockchain-based payments to local banking systems and foreign exchange networks.
In 2022, Trace Finance raised $4.3 million in a seed round led by HOF Capital, with participation from Circle Ventures and Mantis VC, the venture capital firm co-founded by electronic music duo The Chainsmokers. HOF Capital also participated in the company's Series A round.
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