Conduit Raises $36M Series A to Revolutionize Cross-Border Payments With Stablecoins

Conduit, a leading stablecoin-powered cross-border payments platform, has raised $36 million in Series A funding.

The round was co-led by Dragonfly and Altos Ventures, with participation from Sound Ventures, Commerce Ventures, DCG, Circle Ventures (issuer of USDC), Helios Digital Ventures, and Portage Ventures also participating.

This milestone supports the company’s mission to offer a faster, more reliable alternative to traditional cross-border payment rails, powered by stablecoins.

Speaking on the new capital raised, Conduit CEO Kirill Gertman said,

“This funding will accelerate our mission to build next-generation global payments infrastructure, promoting fairer economic opportunities worldwide”.

The new round of funding will help conduit; Launch in five new countries in Asia, Expand local currency and stablecoin coverage and grow the team, and continue improving its infrastructure.

At Conduit, the company believes that stablecoins aren’t just a new technology, they’re the missing piece that connects fragmented payment systems worldwide. While traditional cross-border rails remain slow, opaque, and costly, stablecoins offer a way to move money instantly, transparently, and with full interoperability between fiat and digital currencies.

Founded in 2021, Conduit employs 57 people, serves over 100 clients, and has achieved 105% year-over-year client growth. The platform offers businesses across the globe a better way to simply and cheaply move Money and grow money with faster speed, better visibility, and fewer steps than traditional payment rails. With a Conduit account, global businesses can make seamless cross-border commercial transactions between local fiat in emerging markets to USD around the world.

Conduit’s payment network integrates stablecoins, USD, and local currencies, offering businesses a faster, cheaper, and more reliable alternative to the legacy SWIFT system. With direct partnerships with over two dozen banks across North America, Latin America, Europe, Africa, and Asia, Conduit enables transactions to settle in seconds.

The platform has seen 16x transaction volume growth from 2023 to 2024, saving clients over 60,000 hours in settlement times and $55 million in fees. It provides near-instant, programmable global transactions with built-in AML, sanctions screening, and transaction monitoring.

Why Businesses Choose Conduit

Speed and Efficiency: Transactions settle in seconds via direct bank partnerships, bypassing slow correspondent banking networks.

Broad Coverage: Supports diverse currencies and payment methods, including inflationary currencies in emerging markets.

Deep Liquidity: Institutional-grade FX providers ensure seamless processing of large transactions.

Conduit supports multiple payment rails, including SWIFT, ACH, Fedwire, and local systems in regions like Europe, the UK, China, Hong Kong, Mexico, Brazil, Colombia, Nigeria, and Kenya. It addresses challenges such as limited USD access, high fees, slow settlements, and regulatory complexities by enabling real-time transitions between stablecoins and fiat currencies for efficient invoice settlements.

Dragonfly Capital’s Rob Hadick will join Conduit’s board. “Conduit’s billions in annual transaction volume prove stablecoins are the future of cross-border payments,” Hadick said. “Their innovative technology, traction, and product-market fit make them a critical infrastructure provider for the global economy.”

Conduit is building a new kind of financial infrastructure, one that’s faster, cheaper, and more reliable than the legacy systems that still dominate global business payments.

From Latin America to Africa and Asia, the infrastructure will meet the needs of today’s global businesses, connecting modern domestic payment methods to a unified on-chain layer.