Trace Finance completes $32 million Series A funding, led by CoinFund

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Mars Finance News, June 17 — Stablecoin payment infrastructure company Trace Finance has completed a $32 million Series A funding round, led by CoinFund, with participation from Coinbase Ventures, Haun Ventures, Jump Capital, Paxos, Chainlink Labs, HOF Capital, and others. Trace Finance co-founder and CEO Bernardo Brites stated that the company's valuation has increased approximately tenfold since the seed round in 2022, but did not disclose a specific valuation. Trace Finance is headquartered in Brazil and mainly provides stablecoin cross-border payment infrastructure, combining local banking channels, foreign exchange, compliance, and stablecoin settlement capabilities. The company currently holds licenses in the United States and Brazil and conducts business through partner banks in Mexico, Colombia, Europe, and Asia. Trace Finance plans to expand its operations in Mexico, Colombia, and Argentina, followed by entry into Singapore, Hong Kong, Japan, South Korea, and Southeast Asia markets. Brites also mentioned that the company will continue to apply for additional licenses in Singapore, the United States, and the Asia-Pacific region in the future.
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