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Trace Finance Raises $32M For FX And Payments In LATAM
Trace Finance unveils latest round to scale stablecoin and payments infrastructure to and from LATAM.
LATAM stablecoin payments and FX is growing (Raphael Nogueira / Unsplash)
Trace Finance raises $32M in funding.
Trace has officially secured $32M in a Series A round to scale its payment infrastructure, FX routing and stablecoin off/on-ramping in LATAM. This round was led by CoinFund, with participation from Haun Ventures, Coinbase Ventures, Paxos, and industry leaders such as Chainlink Labs, as well as many others.
Having already processed over $10B in total volume, the platform is firm on the thesis that making payments in and out of LATAM regions will continue to be difficult in the near term and is focusing on assisting the necessary infrastructure for PSPs, fintechs, and financial institutions.
Trace is also making stablecoins be part of the solution to help settle cross-border transfers and integrate easier FX conversions from local currency stablecoins such as BRL (Brazilian Real) to onchain native stablecoins like USDC.
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