Trace Finance has raised $32 million in a Series A round led by CoinFund, with Coinbase Ventures among the participating investors, as the company looks to scale its regulated banking and stablecoin infrastructure across multiple markets.
Trace secures $32 million in new funding
The Series A round was led by CoinFund and included Coinbase Ventures, Haun Ventures, Jump Crypto, Valor Capital, Paxos, and HOF Capital among the backers.
Trace says it has processed more than US$10 billion in cross-border volume and serves the top four global payment providers operating in Latin America, including dLocal.
The company’s platform enables clients to convert Brazilian reais to stablecoins in under 60 seconds through PIX, Brazil’s instant payment system, and settle cross-border payments around the clock through a single compliant API. Trace also reports 99.9% API uptime.
TLDR: Key Points
- Trace Finance raised $32 million in a Series A led by CoinFund.
- Coinbase Ventures, Haun Ventures, Jump Crypto, and others participated.
- The company has processed more than US$10B in cross-border volume.
- Funds will go toward expanding regulated stablecoin infrastructure in Brazil, the U.S., APAC, and other emerging markets.
Why CoinFund and Coinbase backing matters
CoinFund and Coinbase Ventures are among the most recognized names in crypto venture investment. Their joint participation in a round signals institutional-grade due diligence on Trace’s regulatory positioning and product traction, particularly at a time when Coinbase has been expanding its own trading infrastructure and ecosystem reach.
For Trace, having backers with deep crypto-native networks could accelerate partnerships with exchanges, payment processors, and fintech platforms that need compliant on-ramps and off-ramps in Latin America and beyond.
That said, investor participation does not guarantee commercial success. The stablecoin infrastructure space is increasingly competitive, and execution on regulatory compliance across multiple jurisdictions will determine whether the capital translates into durable market share.
Brazil’s regulatory shift is central to the thesis
Trace frames its fundraise around a regulatory tailwind in Brazil. Resolution BCB 277 from Brazil’s central bank explicitly regulates cross-border payments and transfers, and it brings the provision of virtual asset services within the scope of the country’s foreign exchange framework.
That regulatory clarity is pushing institutional cross-border flows toward licensed, bank-grade providers. Trace positions itself as one of the few platforms that can bridge local payment rails like PIX with stablecoin settlement in a fully compliant manner, a distinction that matters as enforcement actions against non-compliant crypto operators continue to rise globally.
What the raise could mean for Trace’s next phase
According to the announcement, Trace plans to use the new capital to expand its regulated infrastructure across Brazil, the United States, APAC, and other high-growth corridors. The company did not disclose a detailed product roadmap or specific hiring targets.
A round of this size typically supports a combination of geographic expansion, engineering headcount growth, and regulatory licensing in new jurisdictions. For a company already processing billions in volume, the priority is likely scaling existing rails rather than building from scratch.
Trace’s competitive positioning will depend on whether it can replicate its Brazilian traction in markets with different regulatory frameworks. The U.S. and APAC regions each present distinct licensing requirements, and stablecoin regulation remains a moving target in both areas, a dynamic that companies across the broader blockchain infrastructure sector continue to navigate.
According to one unconfirmed report, Trace’s valuation grew 10x from its seed round to this Series A, though the primary announcement does not disclose valuation or round pricing.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.