Trace Finance, a regulated financial infrastructure company focused on cross-border payments and stablecoin settlement, raised a $32M Series A round led by CoinFund. The round also included Coinbase Ventures, Haun Ventures, Jump Crypto, Valor Capital, Paxos, HOF Capital, Chainlink Labs, SNZ Capital, and other investors.
Trace Finance provides infrastructure for cross-border payments, foreign exchange, banking connectivity, compliance, and stablecoin settlement. Trace Finance connects global stablecoin liquidity with local banking systems, initially proving its model through the US-Brazil corridor.
Trace Finance will use the capital to expand its enterprise business, enhance its foreign exchange, banking connectivity, compliance, and settlement products, and extend its regulated presence in key markets.
The company has processed more than $10B in institutional cross-border payment volume and serves as the primary infrastructure provider for the four largest global payment companies operating in Latin America, including dLocal.
Source: LatamList
