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Transak Secures $16 Million to Expand Stablecoin Payments Stack
Funding led by Tether and IDG Capital will support infrastructure growth and market expansion
Transak has raised $16 million in strategic funding to expand its stablecoin payments infrastructure and scale operations into new regions. The funding round was led by Tether and IDG Capital, with participation from several other investors.
The company operates a fiat-to-crypto platform that enables users in over 75 countries to convert between local currencies and stablecoins via payment methods such as bank transfers, cards, and virtual IBANs. According to Transak, nearly 30% of its processed transaction volume — which totals over $2 billion to date — has come from stablecoin flows.
Stablecoins and Global Transactions
The company describes stablecoins as an increasingly important medium for remittances, payments, savings, and cross-border commerce. Transak’s platform integrates regulated fiat on- and off-ramps, virtual bank accounts, real-time liquidity routing, and compliance tools.
These services are designed to allow applications, including wallets, exchanges, fintech platforms, and DeFi projects, to offer fiat-to-stablecoin conversions without building their own operational infrastructure.
Regulatory Footprint and Market Reach
Transak holds regulatory approvals in jurisdictions such as the United States, United Kingdom, European Union, Canada, Australia, and India. The company has stated that expansion into the Middle East, Latin America, and Southeast Asia is underway.
The platform is currently integrated with more than 450 applications globally.
Strategic Round Participants
In addition to Tether and IDG Capital, the funding round included participation from Primal Capital, 1kx, Protein Capital, CEiC, KX VC, 3KVC, Genting Ventures, Fuel Ventures, and Umami Capital.
Financial Technology Partners (FT Partners) acted as Transak’s exclusive financial and strategic advisor during the transaction.
