Trace Finance raises $32M for cross-border stablecoin settlement expansion

The raise comes as stablecoin regulation advances globally and financial firms invest in infrastructure connecting blockchain payments with traditional banking systems.

Stablecoin settlement infrastructure company Trace Finance has raised $32 million in a Series A funding round led by CoinFund.

Coinbase Ventures, Jump Capital and Paxos were among the investors that participated in the round, the company said Wednesday in a statement shared with Cointelegraph.

Trace Finance provides banking, foreign exchange and stablecoin settlement infrastructure for cross-border payments across Latin America. It claims to have processed more than $10 billion in transaction volume and plans to use the fresh capital to expand across LatAm, the US and Asia-Pacific markets.

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