Trace Finance raises $32M for cross-border stablecoin settlement expansion
Trace Finance raised $32 million in a Series A led by CoinFund, with participation from Coinbase Ventures, Jump Capital, Paxos and HOF Capital. The company provides banking, FX and stablecoin settlement infrastructure for cross-border payments in Latin America and says it has processed over $10 billion in volume. It plans to expand in Latin America, the US and Asia-Pacific. The raise reflects growing momentum behind regulated stablecoin payment infrastructure as firms connect blockchain-based transfers to local banking and FX systems. Stablecoin policy has accelerated globally after the US GENIUS Act, with Hong Kong also rolling out licensing and China monitoring stablecoins’ impact on cross-border payments. Other companies are expanding in the space too, including MassPay and Coinbase, while Stripe and Circle have launched or acquired stablecoin-focused infrastructure.
