Trace Finance raises $32M to expand stablecoin payments

Trace Finance raised $32M in Series A led by CoinFund. The company will expand its stablecoin payment infrastructure across Latin America, the US, and Asia-Pacific.

Trace Finance, a fintech firm focused on stablecoin settlement infrastructure for cross-border payments, has secured $32 million in a Series A funding round led by CoinFund. Notable participants include Coinbase Ventures, Jump Capital, Paxos, Chainlink Labs, Haun Ventures, and individual investors such as the co-founders of Circle and Solana Labs. The company provides banking, foreign exchange, and stablecoin settlement services, primarily serving Latin America. To date, Trace Finance has processed over $10 billion in transaction volume. With the new funding, Trace Finance plans to expand its regulated stablecoin payment infrastructure beyond Brazil into broader Latin American, United States, and Asia-Pacific markets. The goal is to enhance integration with local banking systems and support institutional clients, including fintechs, exchanges, and global payment providers. Previously, the company raised $4.3 million in a 2022 seed round.