Trace Finance raises $32M for regulated stablecoin banking

New York-based Trace Finance announced a $32 million Series A on June 17, 2026. CoinFund led the round, with participation from Coinbase Ventures, Haun Ventures, Jump Capital, Valor Capital, Paxos, HOF Capital, Chainlink Labs and SNZ Capital. Individual strategic backers included Sean Neville, Anatoly Yakovenko, Bam Azizi and Ricardo Villela Marino.

The company plans to use the funds to increase transaction capacity, deepen bank connectivity, add foreign-exchange capabilities and roll out settlement products that link global stablecoin liquidity to local banks across Brazil, the U.S. and other emerging markets, including APAC.

Trace provides regulated infrastructure that connects stablecoins with local banking systems for cross-border payments and on-chain settlement. The firm built its initial technology stack for U.S.–Brazil flows, a corridor where regulators now classify virtual asset cross-border movements as foreign exchange operations.

The company has processed more than $10 billion in cross-border volume since launching its Brazil offering and became a primary provider for several large payment firms operating in Latin America, including dLocal. Trace serves fintechs, exchanges, international banks and enterprises that require regulated settlement combined with local bank rails.

Bernardo Brites, co-founder and CEO, stated, “Stablecoins alone do not solve cross-border payments. Stablecoins plus regulated local bank infrastructure does.” He said the round will support extending the U.S.–Brazil stack to other high-growth corridors.

Einar Braathen, partner at CoinFund, stated that firms able to bridge on-chain settlement with trusted local banking systems will lead the next phase of global money movement and pointed to Brazil’s operational complexity as a test for the model.

Trace declined to disclose revenue figures. The company plans product work on FX services, compliance tooling, bank connectivity and new settlement offerings built on its regulated banking links.

Regulatory changes in several emerging markets have shifted institutional flows toward regulated, bank-based settlement and away from non-bank providers. Trace’s stated strategy centers on integrating digital-liquidity pools with established banking rails rather than operating solely as a crypto-native payments provider.