Trace Finance secures $32 million to expand stablecoin rails
Trace Finance, a financial infrastructure company that connects banking networks between the US and Brazil with stablecoin settlement systems, has raised $32 million in a Series A funding round led by CoinFund. Other participants included Coinbase Ventures, Haun Ventures, Jump Capital, and several crypto-focused investors. Regulatory change in Brazil drives momentum The investment comes at a time when Brazil has reclassified cross-border crypto transfers as currency operations. This regulatory shift is prompting institutional transaction volumes to move away from unregulated crypto platforms toward intermediaries that are licensed and operate under banking standards—a space in which Trace Finance is strategically positioned. Based in New York, Trace Finance reports that it has already facilitated nearly $10 billion in cross-border transaction volume. The company has become a key settlement partner for several major global payments firms in Latin America, including Uruguay-based payments company dLocal. In financial terms, “settlement” refers to the final completion of transactions between parties and the official transfer of funds. With stablecoin settlement, this process is carried out using digital assets typically pegged to the US dollar, streamlining international value transfers. Company sets sights on international growth Trace Finance co-founder and CEO Bernardo Brites explained that the companys strategy centers on combining digital assets with traditional