Trace Finance Takes $32M Series A to Scale the Bank Layer Stablecoins Are Missing

Coinfund Leads the Round  According to the release shared with Bitcoin.com News, Coinfund led the raise. Coinbase Ventures, Haun Ventures, Jump Capital, Valor Capital, Paxos, and HOF Capital joined the round, along with strategic backers Chainlink Labs and SNZ Capital.  Angel participants include Sean Neville, co-founder of Circle; Anatoly Yakovenko, co-founder of Solana Labs; Bam Azizi, co-founder and CEO of Mesh; and Ricardo Villela Marino, Partner and Vice Chairman at Itau Unibanco, Latin Americas largest bank.  What Trace Actually Does  Trace connects global stablecoin liquidity with local bank infrastructure in high-growth markets. The company does not just move stablecoins; it handles the FX conversion, bank connectivity, and compliance layer that enterprises need to settle payments across borders legally and at scale.  That distinction matters. Brazil classifies virtual asset cross-border flows as foreign exchange operations, pushing institutional volume toward providers with real banking infrastructure. Trace built that stack there and became the main provider for the top four global payment companies operating in LatAm, including dLocal.  To date, Trace has processed more than $10 billion in cross-border volume.  Why the Founders See a Bigger Gap  Bernardo Brites, co-founder and CEO of Trace Finance, made the companys position clear: “ Stablecoins alone do not solve cross-border payments. Stablecoins plus regulated

06-18

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

06-18

Lines Between Crypto and TradFi Will Vanish, Bitwise Says

According to Bitwise, the boundary separating traditional finance (TradFi) and the cryptocurrency sector has started to disappear.  Such a statement has come after Coinbases sweeping “System Update” announcement, which unveiled a massive push to become an “Everything Exchange”.  Bitwise Chief Investment Officer Matt Hougan has noted that Coinbase might eventually cease being a crypto company per se if its revenue eventually stems from non-spot trading activities (trading stocks, offering perpetual futures and options, and so on). “The lines between crypto and TradFi are going to vanish,” Hougan stated.  The cryptocurrency-native firm, which competes with the likes of Binance and Kraken, will now face off against the likes of Robinhood, Charles Schwab, and Interactive Brokers.  The “everything exchange”  Coinbase aspires to become the main financial account for its users, making sure that they use a single login for all types of investment activities (including those that do not involve crypto). The platform will no longer be confined to the on-chain world.  Next month, non-U.S. customers will be able to trade tokenized stocks on the exchange. Holders will receive dividend payouts and shareholder rights on top of such perks as 24/7 trading and peer-to-peer transfers. Traders can now transfer existing stock portfolios from other platforms directly to Coinbase.  The

06-18

Coinbase-Backed Crypto Perps Exchange Satori Finance Is Shutting Down

In briefMulti-chain perps exchange Satori Finance is closing its doors next month.The firm raised $10 million from Coinbase Ventures, Jump Capital, and others in 2022.Satori said the extended market downturn had a significant impact on its financial situation.  Satori Finance, a decentralized perpetual futures exchange backed by Coinbase Ventures and Jump Capital, is sunsetting its platform due to financial stress amid a declining crypto market.  The firm, which raised $10 million from investors in 2022, supported perps trading on Ethereum, BNB Chain, and prominent layer-2 networks like Base and Arbitrum, among other crypto networks.  “Unfortunately, due to prolonged unfavorable market conditions, our revenue has not been sufficient to sustain operations, and continuing to run the platform is no longer financially viable,” it posted on X.  The platform will remain operational throughout the next month, but the firm is recommending that users close open trades and withdraw their assets. When it ceases operations after July 16 at 7:59 p.m. ET, the team said customers may no longer be able to access their funds.  A Heartfelt Farewell from Satori Finance  Dear Satori Finance Users,  After careful consideration, we have made the difficult decision to wind down Satori Finance operations. Our team has poured tremendous effort, passion, and countless hours

06-18

Kentucky targets prediction markets, puts red state in potential clash with Trump team

Kentuckys attorney general has sued leading prediction market firms Kalshi and Polymarket, accusing them of offering illegal sports betting without a license, adding its name to the growing list of states opposing the rise of the industry.  But Kentucky is also strongly Republican in its overall politics, having voted for President Donald Trump with a 64% majority in 2024, though Governor Andy Beshear is a Democrat. Now its found itself in the position of legally battling against one of Trumps own policy positions, that prediction market oversight belongs in the hands of the federal Commodity Futures Trading Commission.  For its part, Kentucky is making a similar case against the event-contract platforms as the other states, that they arent licensed for gaming there. Additionally, it said in a Wednesday statement that the companies and their partners — naming Coinbase, Robinhood and Webull — dont offer resources for people with gambling problems, as required under local law.  “Kalshi and Polymarket are operating illegal sportsbooks in Kentucky and breaking our laws,” said Kentucky Attorney General Russell Coleman, a Republican and formerly a U.S. attorney nominated by Trump. These multi-billion dollar corporations and their legal fictions dont pass the sniff test.  A spokesperson for Polymarket said the company

06-18

Bitcoin bottom? BTC builds massive support wall amid ‘one of the largest transfers ever’

Bitcoin endured a heavy liquidity outflow between October 2025 and February 2026, before staging a rebound across March and April that largely restored the positive sentiment surrounding the asset.  That relief rally proved short-lived, however, as Bitcoin [$BTC] slipped back onto a downward path through May and has held to that same structure since June began.  Market activity now reads as decidedly subdued, and the threat of a deeper drop continues to build. Yet beneath that pressure, Bitcoin may have quietly carved out a key support zone—one that could seal off the path to further decline and reshape how the asset performs from here.  Bitcoin accumulation wall takes shape  A recent report from Checkonchain indicates that Bitcoin may have constructed a substantial support wall across the $60,000 to $70,000 region, drawn from its supply distribution.  According to the findings, 20% of Bitcoins circulating supply has changed hands within that band, establishing a meaningful accumulation floor for the asset. The supply distribution itself maps how ownership of Bitcoin has transferred into different hands over time.  Source: FrankAFetter on X  Pseudonymous CryptoQuant market analyst Darkfost frames the development as a sweeping shift among the cohort of investors now steering the market.  “This is surely one of the largest transfers from

06-18

Coinbase denies doxxing BTC-backed mortgage customer

Coinbase has hit back at claims that it doxxed a customer who made use of the exchanges first crypto-backed mortgage.  During a June 16 event, at which Coinbase unveiled 21 new products, the company shared a photo of the house apparently backed by the mortgage, describing the owner as someone who owns a lot of bitcoin ($BTC).  However, a critic soon claimed to have pulled up the buyer‘s Zillow listing — not ideal, given that $BTC’s parabolic price increase over the past 17 years and the fact that keys instantly confer ownership make owners appealing targets for thieves.  Attempting to downplay any fears, a Coinbase spokesperson told Protos, During the exciting process of closing on the home, Coinbase and Better worked closely with the homeowner on a mindful way to share the news while maintaining their privacy.  We received a picture of the house, taken by the homeowner, and took steps to anonymize the house by removing and changing key identifiers and features.  “We then received their express permission to use the altered image in both Better‘s press release and Coinbase’s recent showcase.”  Indeed, the house appears on a joint press release from Coinbase and the Better Home & Finance Holding Company, cross-posted to the companys

06-18

Bitcoin layer-2s face a bear-market reality check

When Botanix announced last week that it would be winding down operations, the Bitcoin layer-2 project did not try to sugarcoat its message.  “It did not work,” the team wrote in a social media post announcing the shut down. “At least not in this market and not in this timeline.”  Botanix was one of a number of projects pitching Bitcoin as a new frontier for decentralized finance (DeFi), staking, zero-knowledge rollups and smart-contract applications.  Its conclusion was that “making Bitcoin programmable, productive and integrated into real financial activity isnt where real-world users sit right now.”  Current market conditions might not be the most fruitful ground for investing in utility and programmability under the hood of the worlds original cryptocurrency. Bitcoins role as a store of value is what attracts the majority of investors, who may not be drawn to other potential functions of BTC when it is not performing its most fundamental one very convincingly.  That raises an uncomfortable question: has the Bitcoin utility boom lost its shine?  The data does little to dispel the skepticism. DefiLlama shows Ethereum with around $39 billion in total value locked, while Bitcoins onchain DeFi activity sits at less than $5 billion, despite its total market cap being four to

06-18

Here is how Coinbase plan to survive the crypto downturn by ditching its reliance on trading fees

Coinbases (COIN) latest product launch event may not have changed Wall Streets near-term earnings forecasts, but it reinforced a growing belief among analysts that the crypto exchange is steadily transforming itself into a broader financial platform with revenue streams that extend beyond bitcoins price cycles.  At Tuesdays System Update event in New York, Coinbase unveiled products spanning derivatives, tokenized stocks, stablecoin payments, lending and artificial intelligence. While the announcements covered a wide range of businesses, analysts focused less on the individual products and more on what they reveal about the companys long-term strategy.  For years, Coinbases fortunes have been closely tied to crypto trading activity. When bitcoin BTC$64,706.27 rallies and retail investors return to the market, trading revenue tends to surge. During slower periods, that revenue can fall sharply. Analysts increasingly view Coinbases product expansion as an effort to reduce that dependence.  “The new features are aligned with the companys effort to become the everything exchange,” Barclays analyst Benjamin Budish wrote following the event, adding that the company is seeking to capture a larger share of customers financial activity as crypto trading volumes remain relatively subdued.  Cantor Fitzgerald analyst Ramsey El-Assal struck a similar tone. While acknowledging softer conditions across crypto markets, he said

06-18

Coinbase expands everything exchange push with tokenized stocks and AI tools

Coinbase unveiled a broad product expansion across stocks, derivatives, artificial intelligence, consumer finance and business payments as the company pushes deeper into its “everything exchange” strategy.  The company said it will introduce tokenized stocks next month for customers outside the US. The products will be backed one to one by the underlying equities and will include dividend payouts and shareholder rights, according to Coinbase.  The company said users will be able to trade US stocks around the clock, lend shares to earn yield, use them as collateral or transfer them directly to others.  Coinbase also plans to roll out options trading for crypto and stocks in the coming months, bringing more advanced strategies to the same platform where users already trade digital assets.  Advertisement  The exchange is also expanding its equities business. Users can now transfer stock portfolios from other platforms into Coinbase and trade major US stocks, indexes and ETFs through Coinbase Advanced, with zero commission fees, TradingView charting, fractional shares and rewards on trade ready $USDC balances.  Coinbase is adding more derivatives products as well. The company said it is introducing real world asset perpetual futures tied to thematic equity baskets such as AI, China, Defense and the Tech 100. Its pre IPO perpetual

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