CoinFund and Coinbase Back Trace Finance $32M Round
Stablecoin payments startup raises Series A to challenge legacy cross-border settlement rails.
Trace Finance raised a $32 million Series A on June 17, 2026, with CoinFund and Coinbase Ventures leading the round to scale its stablecoin payments infrastructure.
Why It Matters
Stablecoin rails are becoming a genuine alternative to legacy payment networks, and this raise signals institutional conviction in that shift. For iGaming operators, stablecoin infrastructure companies like Trace Finance directly reduce settlement friction — cross-border payouts that currently take days and carry 2–4% FX costs could compress to minutes at near-zero fees. Coinbase Ventures' participation is particularly notable: it gives Trace Finance a distribution pathway into Coinbase's existing merchant and exchange ecosystem. As of June 2026, stablecoin transaction volume has grown to rival several traditional card networks, according to on-chain analytics firms, making this funding round well-timed rather than speculative.
Context
Trace Finance builds back-end infrastructure that lets businesses send and receive payments via stablecoins without managing crypto complexity themselves. The company sits in a crowded but rapidly consolidating space alongside Bridge (acquired by Stripe in 2025) and BVNK, both of which have targeted the iGaming and remittance verticals. The $32 million Series A, reported by Decrypt, gives Trace Finance the runway to compete for enterprise contracts that rivals are already pursuing.
What's Next
Trace Finance has indicated it will use the capital to expand geographic reach — likely targeting Latin America and Southeast Asia, where stablecoin adoption is highest. Watch for partnership announcements with licensed iGaming operators or payment service providers in the next two quarters.
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