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