Overview
- Trace Finance closed a $32 million Series A led by CoinFund with participation from Coinbase Ventures, Haun Ventures, Jump Capital, Paxos, Chainlink Labs and angel investor Anatoly Yakovenko, the company announced Wednesday.
- The company says its valuation has grown roughly tenfold since its 2022 seed and reports it has processed between $5 billion and $10 billion in payment volume, figures presented as company‑reported and not independently audited.
- Trace offers unified APIs that translate local payment rails such as Brazil’s PIX into fiat‑to‑stablecoin settlement and serves clients including dLocal, Bitso and OKX.
- The new capital will be used to deepen local‑fiat integrations, build compliant payments and treasury tools, and expand the firm’s footprint beyond the U.S.–Brazil corridor into other Latin American markets and overseas.
- Investors’ participation — including stablecoin issuers, an oracle provider and major crypto venture arms — underscores a broader shift of institutional capital into regulated stablecoin infrastructure as banks and fintechs seek bank‑grade on/off‑ramps.