Key facts
- Trace Finance, a stablecoin payments infrastructure firm, raised $32 million in a Series A funding round.
- CoinFund led the investment, joined by Coinbase Ventures, Haun Ventures, Jump Capital, Paxos, Chainlink Labs, and HOF Capital.
- The company's valuation has increased approximately tenfold since its seed funding round in 2022.
- Trace Finance plans to use the funds to expand its operations into Latin America and the Asia-Pacific region.
- Trace Finance has processed over $10 billion in institutional cross-border volume and operates under licenses in the U.S. and Brazil.
Trace Finance, a company specializing in stablecoin payment infrastructure, has successfully raised $32 million in its Series A funding round. The investment was led by CoinFund, with significant participation from other major crypto and traditional finance entities including Coinbase Ventures, Haun Ventures, Jump Capital, Paxos, Chainlink Labs, and HOF Capital. Angel investors, including prominent figures from the crypto and banking sectors, also contributed to the round.
This funding marks a substantial growth for Trace Finance, with its valuation reportedly increasing tenfold since its seed funding in 2022. The company, founded in 2021 and based in Brazil, aims to leverage these funds to expand its regulated infrastructure across Latin America and the Asia-Pacific region. Trace Finance focuses on connecting stablecoins with traditional banking and payment systems, a critical need highlighted by recent acquisitions in the space by Stripe and Mastercard.
Trace Finance has already processed over $10 billion in institutional cross-border volume and operates under licenses in the U.S. and Brazil, with plans to secure further licenses and expand its presence in key markets like Mexico, Colombia, Argentina, Singapore, Hong Kong, Japan, South Korea, and Southeast Asia. The company emphasizes that stablecoins, when combined with regulated local bank infrastructure, are key to solving cross-border payment challenges.