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.
