Cross-border payments infrastructure company Trace Finance has secured $32 million in a Series A funding round led by CoinFund. The investment aims to expand its stablecoin-based settlement infrastructure beyond Brazil into broader Latin American and Asia-Pacific markets.
The round saw participation from prominent crypto investors and builders, including Coinbase Ventures, Haun Ventures, Jump Crypto, Valor Capital, Paxos, HOF Capital, Chainlink Labs, and SNZ Capital. Individual backers also joined, such as Circle co-founder Sean Neville, Solana Labs co-founder Anatoly Yakovenko, Mesh co-founder Bam Azizi, and Ricardo Villela Marino of Itaú Unibanco.
Trace Finance operates a regulated banking and payment infrastructure that connects local financial systems with stablecoin settlements, handling foreign exchange, compliance, and bank connectivity for institutional clients. The company has processed over $10 billion in cumulative cross-border transaction volume and counts dLocal among major payment companies it serves in Latin America.
According to CEO Bernardo Brites, the company’s valuation has risen nearly tenfold since a 2022 seed round led by HOF Capital. The fresh capital will deepen Trace Finance’s product suite across FX, bank connectivity, compliance, and stablecoin settlement, while supporting geographic expansion into the United States and Asia-Pacific. New stablecoin products are in development to further integrate local banking systems with global stablecoin liquidity.
Einar Braathen, partner at CoinFund, highlighted the funding’s focus on bridging blockchain settlements and local banking access, noting that Brazil is one of the world’s most complex payment environments and that Trace Finance has built regulated infrastructure used by global blue-chip businesses. Brazil recently classified cross-border digital asset transfers as foreign exchange operations, driving institutional volume toward regulated banking providers—a shift that aligns with Trace Finance’s compliance-focused model.
