Stablecoin infrastructure firm Trace Finance announced it has raised $32 million in a Series A funding round led by CoinFund with participation from Coinbase.
The round will support expansion of the company's stablecoin settlement infrastructure.
Trace Finance said the funding comes as policymakers and payment firms focus more on cross-border digital asset transfers.
CoinFund led the round while Coinbase also backed the startup.
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Peer-to-peer trading startup Variational has secured $50 million in a Series A funding round to expand its onchain derivatives platform focused on real-world assets.
Coinbase has announced the launch of its 'Coinbase Stablecoin Credit Strategy' (CUSHY), a new fund targeting qualified investors with exposure to tokenized institutional credit. The strategy leverages stablecoins for public, private, and opportunistic credit opportunities. It aims to capitalize on tokenization benefits amid ongoing debates over stablecoin regulation.
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Digital asset company Bakkt has completed its equity-based acquisition of stablecoin infrastructure firm Distributed Technologies Research. The deal aims to create a 24/7 digital settlement layer by integrating DTR's technology. Bakkt issued more than 11.3 million shares as part of the transaction.
Digital Asset, the developer behind the Canton Network blockchain, announced it has closed a $355 million funding round led by a16z crypto.