Conduit Raises $36 Million to Expand Cross-Border Payments with Stablecoins

Conduit, a stablecoin company, has raised $36 million in a Series A funding round led by Dragonfly Capital and Altos Ventures. The company aims to make cross-border payments faster, cheaper, and more reliable for businesses worldwide. Conduit settles international payments with stablecoins and helps clients exchange local currencies for stablecoins. The company has grown to process over $10 billion in transactions annually and plans to expand its services to five Asian countries by the end of the year.

Conduit, a leading provider of stablecoin-based cross-border payments, has secured $36 million in Series A funding. The round was co-led by Dragonfly Capital and Altos Ventures, with participation from Sound Ventures, Commerce Ventures, DCG, Circle Ventures, Helios Digital Ventures, and Portage Ventures [1]. This investment will support Conduit's mission to revolutionize global payments by integrating stablecoins with traditional currencies.

Conduit's platform offers businesses a faster, cheaper, and more reliable alternative to legacy systems like SWIFT. The company's transaction volumes surged 16x in 2024, surpassing $10 billion in annualized payment volume [1]. The new funding will be used to expand geographic reach, increase the range of supported currencies, and enhance the platform's real-time payment capabilities.

Conduit's innovative approach combines stablecoins with local and fiat currencies, providing nearly instant, programmable global transactions. The company's robust network of institutional-grade FX providers ensures large transactions can be processed seamlessly without liquidity constraints [1]. This is particularly beneficial for businesses in regions with restricted access to USD or limited SWIFT connectivity.

The funding round comes as Conduit continues to grow rapidly. The company has experienced 105% year-over-year client growth and plans to expand its product offering into five Asian countries by the end of 2025 [1]. This expansion will further enhance Conduit's global footprint and support its mission to promote fairer economic opportunities across the world.

Conduit's CEO, Kirill Gertman, stated, "This fresh capital injection will enable us to accelerate our mission to build the next generation global payments infrastructure. Traditional cross-border payment systems do not meet the demands of modern businesses. Conduit's platform seamlessly bridges the gap between traditional banking and stablecoin technology, offering unparalleled speed, affordability, transparency, and reliability" [1].

The investment also includes Dragonfly Capital's Rob Hadick joining the Conduit board, who expressed enthusiasm for the company's innovative technology and remarkable traction [1].

References:
[1] https://www.businesswire.com/news/home/20250528156066/en/Conduit-Raises-%2436-Million-Series-A-to-Scale-Use-of-Stablecoins-for-Cross-Border-Payments