Trace Finance, a regulated financial infrastructure company for cross-border payments and stablecoin settlement, today announced a $32 million Series A led by CoinFund, with participation from Coinbase Ventures, Haun Ventures, Jump Crypto, Valor Capital, Paxos, HOF Capital and others. The funding will support Trace’s expansion as it scales transaction capacity and extends its regulated infrastructure across additional high-growth corridors globally.
Connecting the U.S. to Brazil was the proving ground for Trace’s broader vision. Brazil, one of the top five countries globally for stablecoin infrastructure concentration, has classified virtual asset cross-border flows as foreign exchange operations, shifting institutional volume away from non-bank providers and toward bank-grade infrastructure. Precisely where Trace operates. The company built that stack in a market with some of the most complex FX and compliance requirements in the world, processing more than $10B in cross-border volume and becoming the main provider for the top four global payment providers in LatAm, including dLocal. Trace is now expanding that infrastructure internationally, across LatAm, the U.S., and APAC.
“Stablecoins alone do not solve cross-border payments. Stablecoins plus regulated local bank infrastructure does,” said Bernardo Brites, co-founder and CEO of Trace Finance. “This round lets us deepen the banking, payments, and compliance infrastructure that global fintechs, exchanges, international banks and enterprises rely on to bridge digital settlement with trusted local financial systems. We built Trace bridging the U.S. to Brazil and are now extending that infrastructure across LatAm and other emerging markets.”
Trace will use the Series A to scale into large global enterprises, deepen product capabilities across FX, bank connectivity, compliance, and stablecoin settlement, and expand its regulated footprint across Brazil, the United States, APAC, and other priority jurisdictions. The company is building a regulated financial layer that connects global stablecoin liquidity with local banking systems across high-growth markets.
“The next phase of global money movement will be won by companies that can bridge onchain settlement with trusted local banking systems,” said Einar Braathen, Partner at CoinFund. “Brazil is one of the largest and most operationally complex payment environments in the world, and Trace has built the regulated infrastructure that global blue-chip businesses are using to scale, while saving time and costs compared to legacy alternatives.”
The Series A also drew support from strategic backers including Chainlink Labs and SNZ Capital, alongside founders and operators spanning the stablecoin, payments, and banking ecosystems, including Sean Neville, co-founder of Circle; Anatoly Yakovenko, co-founder of Solana Labs; Bam Azizi, co-founder and CEO of Mesh; and Ricardo Villela Marino, Partner and Vice Chairman of Latin America’s largest bank, Itaú Unibanco.
Trace also has new settlement products in development, built on its regulated banking infrastructure and designed to deepen the company’s role connecting local financial systems in Brazil and LatAm with global stablecoin liquidity.
About Trace Finance
Trace Finance is a regulated financial infrastructure company powering cross-border payments, banking connectivity, FX and stablecoin settlement across Brazil, the United States and emerging markets worldwide. The company combines local payment rails, Pix connectivity, compliance operations, banking infrastructure and stablecoin-enabled settlement to help enterprises, fintechs, exchanges, payment companies and global platforms move money through complex markets at institutional scale. Trace has processed more than US$10B in institutional cross-border volume and is the main provider for the top 4 global payment providers operating in LatAm, including dLocal. The company is backed by CoinFund, Coinbase Ventures, Haun Ventures, Jump Crypto, Polymorphic, Chainlink Labs, SNZ Capital, Kadan Capital, HOF Capital, Clocktower, FJ Labs, Paxos, Animoca Brands, and others. The Series A follows Trace’s 2022 seed round, led by HOF Capital with participation from Circle Ventures, Mantis VC (The Chainsmokers), and others. Learn more at tracefinance.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260617597265/en/
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