Key facts
- Trace Finance, a stablecoin payments infrastructure firm, raised $32 million in a Series A funding round.
- CoinFund led the investment, with participation from Coinbase Ventures, Haun Ventures, and Jump Capital.
- The company plans to use the funds to expand its operations into Latin America, the U.S., and the Asia-Pacific region.
- Trace Finance has processed over $10 billion in institutional cross-border transaction volume.
- The company emphasizes pairing stablecoins with regulated local bank infrastructure to solve cross-border payments.
Trace Finance, a financial infrastructure company that links banks in Brazil and the United States to stablecoin settlement networks, has raised $32 million in a Series A funding round led by CoinFund, with backing from Coinbase Ventures, Haun Ventures, Jump Capital, and other crypto-focused investors. The funding comes as Brazilian regulators reclassify cross-border crypto transfers as foreign-exchange operations, pushing institutional volume toward bank-grade providers like Trace. The company plans to use the funds to expand beyond its U.S.-Brazil corridor into other Latin American markets, the U.S., and Asia-Pacific. Trace Finance has processed over $10 billion in cross-border transaction volume and is a settlement partner for major payment firms in Latin America. CEO Bernardo Brites stated that stablecoins combined with regulated local bank infrastructure are key to solving cross-border payments. The company's valuation has reportedly increased tenfold since its 2022 seed raise.