Trace Finance Secures $32M to Expand Stablecoin Infrastructure
- Trace Finance raised $32 million in a Series A round led by CoinFund, with participation from Coinbase Ventures and Haun Ventures.
- The funding follows Brazil’s reclassification of cross-border crypto flows as foreign-exchange operations.
- Trace has processed over $10 billion in cross-border transaction volume, partnering with major payment firms like dLocal.
- The company plans to expand its U.S.-Brazil corridor into other Latin American markets, the U.S., and Asia-Pacific regions.
Trace Finance aims to enhance its banking and compliance infrastructure by integrating stablecoins with traditional banking systems, following regulatory changes in Brazil that favor licensed intermediaries over unregulated platforms.
The recent funding will enable Trace Finance to broaden its market reach while solidifying its role as a key player in regulated digital settlement solutions across multiple regions. (Source)
