Key facts
- HIFI raised $37 million in a Series A funding round led by Left Lane Capital.
- The funding will support HIFI's tokenized capital markets infrastructure and stablecoin payments products.
- HIFI's platform allows customers to move dollars into and out of stablecoins and settle tokenized transactions.
- HIFI participated in DTCC's production trades using tokenized securities in July.
- Visa reported over 160 stablecoin-linked card programs were live globally in its fiscal second quarter.
- Visa's stablecoin settlement volume surpassed a $20 billion annualized run rate.
Stablecoin infrastructure company HIFI has raised $37 million in a Series A funding round led by Left Lane Capital, as the use of stablecoins for payments and cross-border transfers continues to grow. HIFI CEO Zach Walsh told Cointelegraph that this is the company's first priced funding round, though a valuation was not disclosed. HIFI is processing approximately $7 billion in annualized volume directly through its platform.
The financing will support the scaling of HIFI’s tokenized capital markets infrastructure and the expansion of its broader product suite, including stablecoin payments products. HIFI's infrastructure allows customers to move dollars into and out of stablecoins, send payouts through US banking rails and cards, and settle the cash side of tokenized repo and Treasury transactions in US dollars.
In July, DTCC conducted production trades using tokenized securities across several market functions, including US Treasury and repo settlement, equity transactions, securities lending and collateral workflows. HIFI was among more than 30 firms that participated, alongside BlackRock, Goldman Sachs and Nasdaq. DTCC plans to launch its Tokenization Service in October.
HIFI has also expanded into card-based payouts through Visa Direct, allowing customers to convert USDC and send proceeds to eligible Visa debit and credit cards globally. Visa reports growing use of stablecoins across its payments network, with more than 160 stablecoin-linked card programs live globally during its fiscal second quarter. Payment volume through those programs rose nearly 200% year over year, and Visa's stablecoin settlement volume surpassed a $20 billion annualized run rate.