Trace Finance Secures $32 Million for Stablecoin Settlement Expansion
- Trace Finance raised $32 million in a Series A funding round led by CoinFund.
- Investors included Coinbase Ventures, Jump Capital, and Paxos.
- The company has processed over $10 billion in transaction volume for cross-border payments in Latin America.
- Stablecoin market capitalization is approximately $315 billion.
- Increased stablecoin regulation is driving infrastructure development for cross-border payments globally.
The funding will help Trace Finance expand its operations across Latin America, the US, and Asia-Pacific markets as stablecoin settlements integrate into regulated financial systems. This comes amid a global push for stablecoin regulations following significant legislative developments.
With the recent $32 million investment, Trace Finance aims to enhance its stablecoin settlement services, contributing to the growing infrastructure that supports an estimated $315 billion stablecoin market.(Source)
