Stablecoin infrastructure startup Trace Finance has closed a $32 million Series A funding round led by CoinFund with participation from Coinbase. The company announced the raise on Wednesday, saying the fresh capital will go toward expanding its reach in the stablecoin ecosystem.
Backers and the round
CoinFund, a crypto-focused venture firm, led the round. Coinbase, the publicly traded exchange, also contributed. The deal brings Trace Finance’s total funding to an undisclosed amount, but the Series A alone puts the company among the better-capitalized players in the stablecoin infrastructure space.
What Trace Finance does
The firm builds tools for issuing, managing, and moving stablecoins. Its clients range from fintech companies to traditional financial institutions looking to work with dollar-pegged digital assets. Trace Finance handles the compliance, custody, and settlement layers that make stablecoins usable in real-world payments and treasury operations.
Where the money goes
Trace Finance plans to use the $32 million to hire engineers, open new markets, and deepen integrations with banks and payment networks. The company is betting that stablecoins will become a standard part of the global payments infrastructure, and the expansion push is meant to capture that growth before competitors catch up.
Neither Trace Finance nor its backers disclosed specific hiring targets or geographic priorities. But the firm has been active in North America and Europe, and the new capital could accelerate moves into Asia and Latin America.
