Trace Finance raises $32M to expand stablecoin cross-border settlement infrastructure

Trace Finance raised $32M in Series A funding led by CoinFund to expand its stablecoin settlement infrastructure for cross-border payments across Latin America, the US and Asia-Pacific.

• Coinbase Ventures, Jump Capital and Paxos participated in the round alongside lead investor CoinFund.
• Trace Finance has processed over $10 billion in transaction volume since its 2022 seed round.
• The raise comes as stablecoin regulation advances globally with the GENIUS Act in the US and Hong Kong's Stablecoin Ordinance.
• The company provides banking, FX and stablecoin settlement rails connecting blockchain payments to local banking systems.

Coinporta summarises news for fast scanning. Full reporting belongs to the source.