Trace Finance raises $32 million to expand stablecoin infrastructure globally
Trace Finance has secured $32 million in a Series A round to expand its stablecoin payments infrastructure across Latin America and the Asia-Pacific region, as demand for regulated digital asset settlement continues to accelerate.
The funding round was led by CoinFund, with participation from Coinbase Ventures, Haun Ventures, Jump Capital, Paxos, Chainlink Labs, and HOF Capital. Angel backers included Sean Neville, Anatoly Yakovenko, Bam Azizi, and Ricardo Villela Marino. As part of the agreement, CoinFund partner Einar Braathen will join the company’s board.
The Brazil-based firm reported its valuation has increased tenfold since raising $4.3 million in a seed round in 2022.
Expansion plans target key global corridors
Trace Finance plans to scale operations across Mexico, Colombia, Argentina, and multiple Asia-Pacific markets, including Singapore, Hong Kong, Japan, South Korea, and Southeast Asia. The company is also pursuing additional regulatory licenses in Singapore, the United States, and other regional jurisdictions to support this expansion.
The firm currently operates under licenses in the United States and Brazil and maintains partnerships with banks across Latin America, Europe, and Asia.
Its infrastructure initially focused on connecting the United States and Brazil, integrating banking systems with foreign exchange, compliance tools, and stablecoin settlement. Regulatory developments in Brazil, where cross-border virtual asset payments are now classified as foreign exchange transactions, are expected to drive more institutional flows toward licensed providers.
Growing demand for regulated stablecoin infrastructure
Founded in 2021, Trace Finance has processed more than $10 billion in cross-border transactions and serves as a core infrastructure provider for four of the largest global payment platforms active in Latin America. Its disclosed clients include dLocal.
The company has grown its workforce to 48 employees, up from 25 earlier this year, and is developing new settlement products aimed at cross-border financial services.
The funding comes amid increasing acquisition activity in the stablecoin sector, as traditional payment companies seek to integrate blockchain-based systems. Stripe recently acquired infrastructure firm Bridge for $1.1 billion, while Mastercard agreed to purchase BVNK for up to $1.8 billion, pending regulatory approvals.
Market shifts toward utility over speculation
The latest funding highlights a broader shift in the digital asset sector, where capital is moving toward infrastructure rather than speculative assets. Backing from firms like CoinFund and Coinbase Ventures signals a focus on building regulated connections between blockchain networks and traditional banking systems.
The global cross-border payments market is projected to reach $238.14 billion in 2026, with business-to-business transactions accounting for the largest share. These transactions remain an area of friction due to delays and high costs, creating demand for more efficient settlement solutions.
Latin America has emerged as a key region for stablecoin adoption, supported by a $142 billion remittance market and ongoing inflation in several economies. Brazil alone processed $89 billion in stablecoin transactions in 2025, underscoring the region’s growing role in digital payments.
Expansion into Asia-Pacific targets the fastest-growing corridor for stablecoin usage, with strong transaction volume and rising demand for local currency-pegged assets to reduce foreign exchange friction.
Regulation and consolidation shape next phase
The company’s push for new licenses reflects increasing demand for regulatory clarity, a critical factor for large-scale adoption by institutions. In Brazil, Trace operates alongside the widely adopted Pix instant payment system, which has set a high benchmark for speed and efficiency.
At the same time, rising acquisition activity signals that established payment firms are opting to acquire blockchain infrastructure rather than build it in-house.
Market observers note that capital is increasingly flowing into enabling technologies for digital assets. The addition of Braathen to the board indicates closer involvement from backers as Trace Finance prepares for its next phase of growth.
Upcoming regulatory approvals in key markets are expected to play a decisive role, as new licenses often unlock higher transaction volumes and client expansion. Demand is also building in Asia for stablecoins tied to local currencies, offering a potential solution to foreign exchange challenges in cross-border payments.
Explore how regulatory shifts shape stablecoin adoption in Asia with our guide on stablecoins in Asia today.
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