Trace Finance, a regulated cross-border payments company, has closed a $32 million Series A funding round. The capital will be used to extend its stablecoin settlement infrastructure beyond Latin America into global markets. Coinfund led the raise.
The round and the investors
Coinfund, a crypto-focused venture firm, led the Series A. The round also drew Coinbase Ventures, Haun Ventures, Jump Capital, Valor Capital, Paxos, and HOF Capital. That's a broad mix of crypto-native funds and fintech investors — a sign that institutional money sees real-world use cases for stablecoins beyond trading.
Trace Finance shared the news via a release with Bitcoin.com News. The company didn't disclose its valuation or whether the round included any secondary sales.
Where the money goes
Trace Finance operates a regulated payments network that uses stablecoins to settle cross-border transactions. Until now, its focus has been Latin America — a region where remittances and B2B payments often get stuck in slow, expensive banking rails. The Series A will bankroll a broader push into other geographies, though the company hasn't yet named specific target markets.
The timing makes sense. Stablecoin settlement volumes have climbed steadily this year as more businesses look to bypass traditional correspondent banking. Trace Finance wants to be the infrastructure layer for that shift, and the fresh capital gives it runway to hire, secure licenses, and build out partnerships.
Cross-border payments are a multi-trillion-dollar market, and stablecoins offer a faster, cheaper alternative — if the regulatory and operational plumbing holds up. Trace Finance is one of a handful of regulated players trying to build that plumbing. The investor lineup suggests confidence that the model can scale beyond one region.
Still, expansion isn't simple. Every new country means navigating local licensing, anti-money-laundering rules, and banking relationships. Trace Finance's next moves will show whether it can replicate its Latin American playbook elsewhere — and how quickly.
