Trace Finance Raises $32M to Push Stablecoin Adoption in LatAm, Asia

Trace Finance raised $32 million in Series A funding led by CoinFund. Coinbase Ventures, Paxos, and Chainlink Labs also participated. The company processes cross-border stablecoin transactions and has handled more than $10 billion in cumulative volume before this round.

The funds will go toward expanding in Latin America and Asia-Pacific. Brazil ranks among the top five countries for stablecoin infrastructure globally. Trace Finance said the investment will accelerate stablecoin adoption in those regions.

Stablecoins allow near-instant settlement without traditional banking intermediaries. Trace Finance's infrastructure connects businesses and payment providers across borders. The company's platform integrates with local payment systems in Brazil and other markets. It handles compliance and currency conversion.

The round attracted investors with deep ties to the crypto and stablecoin ecosystem. CoinFund has backed several crypto infrastructure firms. Coinbase Ventures is the investment arm of the largest U.S. exchange. Paxos issues its own stablecoins and provides settlement services. Chainlink Labs develops oracle networks.

Latin America has seen rapid stablecoin adoption for remittances and business payments. Asia-Pacific markets like Singapore and Hong Kong have regulatory frameworks that support stablecoin issuance. Trace Finance's expansion targets both regions.

The $10 billion in cumulative volume shows existing demand for stablecoin-based cross-border payments. The new capital will allow Trace Finance to build out its network and add more corridors. The company did not disclose a valuation.