Conduit, a firm specializing in cross-border payments with stablecoins, has successfully raised $36 million in a recent Series A funding round to expand its payment infrastructure globally. The funding, which was announced on a Wednesday, saw participation from Dragonfly and Altos Ventures, along with contributions from Circle Ventures and Digital Currency Group.

Founded in 2021, this Boston-based company provides real-time payments by integrating traditional finance with cryptocurrency systems. Its platform supports both stablecoins and local currencies, facilitating smoother transactions for businesses operating in regions with restricted access to USD or unstable currencies.

Key Takeaways:

• Funding Round: Conduit raised $36 million to expand its payment capabilities.
• Participants: Led by Dragonfly and Altos Ventures, with backing from prominent venture capital firms.
• Client Benefits: The company claims clients have saved over 60,000 hours in settlement times and avoided $55 million in fees.

Rob Hadick from Dragonfly Capital will join the board as part of the agreement. He remarked, “With billions of annual transaction volumes already processed via Conduit’s platform, it has established a more effective way to handle transactions worldwide, making stablecoins a vital part of future cross-border payment solutions.”

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