Another stablecoin infrastructure company, Conduit, secures $36 million in funding
In the dynamic world of financial technology, stablecoins have been making significant strides in cross-border payments. This year has witnessed strategic acquisitions, pioneering regulatory frameworks, and growing investment interest, all contributing to the increasing role of stablecoins in faster, cheaper, and more secure global transactions.
One of the most notable moves was Stripe's acquisition of stablecoin infrastructure provider Bridge, completed early in 2025. This acquisition, seen as a catalyst, has sparked serious engagement from large payment companies and accelerated conversations around stablecoin adoption for global payments. The move has brought stablecoins into the mainstream conversation, leveraging Stripe's market influence and signaling that stablecoins are a viable payments technology to larger players (FXC Intel, 2025).
On the regulatory front, the U.S. passed the GENIUS Act in July 2025, establishing the country’s first comprehensive federal framework for payment stablecoins. The Act mandates reserve backing on a 1:1 basis with specified safe assets, transparency through monthly reserve composition reporting, and stringent audit and certification requirements for large issuers with over $50 billion in circulation. This framework aims to enhance user protection, foster trust, and support the scale-up of stablecoin use in payments (Mastercard, 2025; Latham & Watkins, 2025).
Globally, similar regulatory efforts are underway: the EU’s MiCA framework is in effect, and regions like Hong Kong, Singapore, and the UAE have introduced stablecoin regulations focusing on security and trust. These parallel frameworks support innovation while aiming to protect consumers and facilitate cross-border interoperability (World Economic Forum, 2025).
In terms of application, emerging markets remain a key focus area for stablecoin-enabled cross-border payments due to their potential to lower costs and increase transaction speed. One such company making waves is Conduit, a cross-border payments platform. Conduit recently secured $36 million in Series A funding, co-led by Dragonfly and Altos Ventures, with participation from Sound Ventures, Commerce Ventures, Circle Ventures, and other investors. This funding will be used to expand Conduit's stablecoin-powered payment infrastructure.
Conduit operates across multiple payment rails, including USD denominated networks (SWIFT, ACH, FedWire) and local payment systems in Europe, the UK, China, Hong Kong, Mexico, Brazil, Colombia, Nigeria, and Kenya. The platform maintains direct partnerships with two dozen banks globally and enables faster settlement compared to traditional correspondent banking networks. Conduit's growth is impressive, with transaction volumes increasing 16x in 2024, and the company currently operates at an annualized run rate of $10 billion in payment volume.
Moreover, Conduit has saved its clients over $55 million in fees through its integrated approach to cross-border payments. Plans for Conduit to expand further into Asian markets and strengthen its presence in Mexico are in place. The company's success is a testament to the growing interest in stablecoin payment infrastructure.
Another company making headlines is OpenFX, which recently raised $23 million for cross-border stablecoin payments. These developments reflect the broader investor interest in stablecoin payment infrastructure.
As we move forward, the landscape of stablecoin infrastructure for cross-border payments continues to evolve, promising faster, cheaper, and more secure transactions across the globe.
- Amidst the growing interest in stablecoin payment infrastructure, Conduit's recent Series A funding of $36 million signifies a significant investment in stablecoin-powered cross-border payment systems.
- The passage of the GENIUS Act in the U.S., mandating reserve backing and stringent audit requirements for large stablecoin issuers, underscores the increasing recognition of stablecoins as a sustainable and viable finance technology.
