Trace Finance Raises $32M To Expand Stablecoin Settlement Rails
Trace Finance raised $32 million in a Series A led by CoinFund, with participation from Coinbase Ventures, Haun Ventures, Jump Crypto, Valor Capital, Paxos, HOF Capital, Chainlink Labs, SNZ Capital, and other investors. The company is building regulated stablecoin settlement and cross-border payments infrastructure for Brazil, the US, APAC, and other emerging markets. Trace’s pitch is that stablecoins only become useful for enterprises when paired with local banking connectivity, compliance, FX handling, and fiat on/off-ramps. It highlights Brazil’s Pix system and US-to-Brazil flows as a key use case. The company says it has processed more than $10 billion in cross-border volume. The funding reflects growing investor interest in stablecoins moving beyond trading into payments, treasury, and settlement. Competition is rising among fintechs, banks, exchanges, and payment firms to control the bridge between onchain liquidity and regulated local financial systems.
