Transak, a leading fiat-to-crypto infrastructure provider, has raised $16 million in a strategic funding round co-led by Tether and IDG Capital. The investment aims to accelerate the development of Transak's stablecoin payment stack and expand its global market reach. According to CEO Sami Start, this funding will scale infrastructure critical for mass stablecoin adoption, including compliance systems, KYC protocols, fraud prevention, and banking partnerships.
The platform currently integrates with over 450 applications across 75+ countries, having processed more than $2 billion in transactions - 30% of which involved stablecoins. Tether CEO Paolo Ardoino emphasized that Transak's robust infrastructure addresses the stability and efficiency gaps in traditional payment systems, particularly for remittances, cross-border commerce, and savings.
Transak's technology offers virtual bank accounts, dynamic liquidity routing, and regulated fiat on/off ramps, enabling seamless conversions through local payment methods and cards. With existing licenses in the U.S., U.K., EU, Canada, Australia, and India, the company is actively expanding into Latin America, Southeast Asia, and the Middle East. Additional investors include Primal Capital, 1kx, Protein Capital, and Fuel Ventures, with FT Partners serving as financial advisor.