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Trace Finance Raises $32 Million Series A Led by CoinFund, Coinbase Ventures

GateNews
Trace Finance, a stablecoin settlement infrastructure connecting banks in Brazil and the United States, raised $32 million in a Series A funding round led by CoinFund on Wednesday, with participation from Coinbase Ventures, Haun Ventures, Jump Capital, and other crypto investors. The funding comes as Brazilian regulators reclassify cross-border crypto transfers as foreign-exchange operations, driving institutional volume toward regulated intermediaries like Trace. The company has processed over $10 billion in cross-border transaction volume to date. Trace plans to use the new capital to expand beyond its initial U.S.-Brazil corridor into other Latin American markets, the United States, and Asia-Pacific.
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