Two major crypto firms invest in payments startup
Coinbase and CoinFund have invested in Trace Finance, a stablecoin payments startup, as part of a $32 million funding round, according to Decrypt.
The round underscores investor appetite for blockchain-based payments infrastructure. Trace Finance operates in a sector where stablecoins serve as settlement rails for cross-border and domestic transactions.
Coinbase, the largest U.S. cryptocurrency exchange, has made venture investments across multiple blockchain categories in recent years. CoinFund is an established crypto venture firm. Both firms’ participation signals confidence in the stablecoin payments thesis.
The $32 million raise adds to a growing pool of capital flowing into payments-focused blockchain startups. Infrastructure plays in this category typically target merchant adoption, remittance corridors, or institutional settlement use cases, though Trace Finance’s specific product roadmap and business model were not disclosed.
Details on other investors in the round, the use of proceeds, and Trace Finance’s founding team and location were not made available.
