Trace Finance raises $32 million to expand stablecoin settlement infrastructure amid regulatory shifts in Latin America.
Trace Finance, a stablecoin payments startup, raised $32 million in a Series A round led by CoinFund, with participation from Coinbase Ventures and other investors. The funding targets expansion beyond its U.S.-Brazil corridor into Latin America, the U.S., and Asia-Pacific markets.
The raise coincides with Brazil’s reclassification of cross-border crypto flows as foreign-exchange operations, driving institutional demand toward regulated, bank-grade providers. Trace has processed over $10 billion in transaction volume and partners with major payment firms like dLocal.
The company focuses on combining stablecoin settlements with traditional banking compliance, positioning itself as a bridge between crypto and fiat systems.