Cross-border payments/stablecoin settlement infrastructure company Trace Finance has raised $32 million in new funding.
The Series A financing, announced Wednesday (June 17), will help Trace deepen its product capabilities in areas like foreign exchange (FX), compliance and stablecoin settlements and expand within “priority jurisdictions” such as Brazil, the U.S. and the Asia-Pacific region.
“Connecting the U.S. to Brazil was the proving ground for Trace’s broader vision,” the company said in a news release. “Brazil, one of the top five countries globally for stablecoin infrastructure concentration, has classified virtual asset cross-border flows as foreign exchange operations, shifting institutional volume away from non-bank providers and toward bank-grade infrastructure. Precisely where Trace operates.”
The release added that Trace created its stack inside a market with some of the world’s most complicated FX and compliance requirements, processing more than $10 billion in cross-border volume and becoming the main provider for four of Latin America’s leading global payment providers.
“Stablecoins alone do not solve cross-border payments. Stablecoins plus regulated local bank infrastructure does,” said Bernardo Brites, co-founder and CEO of Trace Finance. “This round lets us deepen the banking, payments and compliance infrastructure that global fintechs, exchanges, international banks and enterprises rely on to bridge digital settlement with trusted local financial systems.”
The funding comes at a time when stablecoins appear to be making in-roads with chief financial officers (CFOs), not so much a financial revolution, but as a way to move money via more familiar banking channels, as PYMNTS wrote Tuesday (June 16).
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That is the clearest opening in “Waiting for Certainty: Why Most CFOs Are Holding Back on Crypto and Stablecoins,” part of PYMNTS Intelligence’s 2026 Certainty Project.
That report found that most middle market firms are still reticent about digital assets. Usage is limited, with 13% of companies using stablecoins and 5% using other cryptocurrencies.
“Yet the data also shows that finance leaders are not rejecting all digital assets equally,” PYMNTS added. “Stablecoins appear to have a more practical path forward because they are tied to traditional currency and may fit more easily into payment and treasury workflows.”
The research also shows that less than a quarter of CFOs expect stablecoins to become even somewhat important to their business in the next three years.
“That is a low ceiling for a technology that has attracted major attention from banks, payment providers and policymakers,” PYMNTS added. “But the positive signal is that CFOs can describe what would make stablecoins more useful. They are looking less for novelty and more for clearer rules, better bank connections and less operational risk.”