Quick read: Integrated development platform Crossmint raises $23.6 million, subscription revenue surges 1100% in one year
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Quick read: Integrated development platform Crossmint raises $23.6 million, subscription revenue surges 1100% in one year
The founder dropped out of Harvard to practice in a monastery, then returned to found Crossmint and raise $23.6 million—what's Crossmint's secret?
Navigating Web3 tides with focused insightsBy KarenZ, Foresight News
In the business world, the complexity of blockchain technology—such as private key management, gas fees, and high development barriers—has deterred many enterprises and developers. Against this backdrop, blockchain development platform Crossmint has emerged. Founded in 2022, the company believes that all future businesses and AI agents will operate on-chain, and Crossmint aims to make building and using on-chain applications simpler and more efficient.
What is Crossmint?
As a blockchain infrastructure platform, Crossmint enables companies and developers to seamlessly integrate into the blockchain ecosystem by offering a suite of one-stop development tools. It allows businesses to embed blockchain capabilities into their applications, AI agents, or operations—removing technical complexities and accelerating Web3 adoption.
Specifically, Crossmint provides full blockchain backend support—including wallets, tokenization, payments, and on-chain credentials—with just a few lines of code.
In an interview with Fortune, the founders compared Crossmint’s product to Alchemy, but noted its target customers are more traditional tech firms, fintechs, and banks.
Team and Investment Background
Crossmint was co-founded in 2022 by two Spanish engineers, Rodri Fernández Touza and Alfonso Gómez-Jordana Mañas. According to Fortune, Rodri Fernández Touza's journey is particularly unique: he enrolled in Stanford Graduate School of Business for an MBA in 2019, then studied public administration at Harvard Kennedy School, before dropping out to spend four months in silent retreat at a temple in upstate New York. In 2021, the rise of the NFT boom reignited Touza’s passion for technology, prompting him to return to entrepreneurship and launch Crossmint alongside Mañas.
Touza said he has practiced Zen Buddhism for nearly a decade, seeking inner peace and meaning. He is also an extreme adventure enthusiast, with experiences including living in religious temples around the world, spending 36 days homeless on London streets, and hiking across half of the Korean Peninsula without money. He holds deep interests in decentralized systems/cryptography, space exploration and development, decarbonization technologies, and cross-border payment infrastructure.
Mañas, born in Madrid, has lived in Silicon Valley for many years and previously served as a product lead at Google. He was also among the earliest employees at WhatsApp (the third product manager).
This month (March 2025), Crossmint announced it raised $23.6 million across seed, Series A, and strategic rounds, led by Ribbit Capital, with participation from Franklin Templeton, Nyca, First Round, Lightspeed Faction, HF0, and others. According to Fortune, the round was pure equity financing.
Ribbit Capital, the lead investor, is known for its sharp investment acumen. Its Web3 portfolio includes standout projects such as Coinbase, Fireblocks, Aave, Morpho Labs, Arbitrum, Blockaid, Chainalysis, and Bridge—the stablecoin platform acquired by Stripe. Franklin Templeton, a global leader in asset management, brings significant influence and credibility.
Crossmint’s Solutions and Operating Mechanism
Crossmint offers comprehensive API support via REST APIs, web and mobile SDKs, and AI agent tools for use cases involving wallets, tokenization, and payments. Developers can freely test and build applications in sandbox environments, but are charged when deploying in production.
Crossmint’s core solutions include:
1. Wallets: Crossmint enables the creation of embedded wallets for users, enterprises, or AI agents, which can be integrated into websites, apps, games, or used for backend transaction signing. Features include gasless transactions, flexible custodial/non-custodial/hybrid architectures, compatibility with various authentication methods, and a unified dashboard for managing users, wallets, tokens, and on-chain analytics.
Crossmint currently supports around 30 blockchain networks, including Ethereum, Solana, Base, BSC, Sui, Aptos, Story, Optimism, Polygon, Arbitrum, and Zora.
In early March 2025, Crossmint launched its Solana smart wallet, supporting delegated signers, flexible fee payment (by developer or user), and transaction fees paid in USDC or USDT.
2. Minting: Crossmint supports large-scale token minting and distribution, providing APIs to create, update, delete, and manage tokens. Users can quickly mint their first NFT and scale the same codebase to millions. Use cases include NFT launches and airdrops.
3. Subscriptions: Enables Web3 applications to implement subscription-based payment models, fully managed end-to-end via Crossmint APIs—including subscription setup, wallet linking, and payment flow. Subscriptions are represented as NFTs tied to user wallets, simplifying integration.
4. Verifiable Credentials: Through its verifiable credentials API, Crossmint offers solutions for issuing, managing, and verifying digital credentials—ideal for academic diplomas, identity verification, and similar use cases.
5. NFT Payments: Crossmint’s payment API allows users to purchase NFTs using credit cards or any cryptocurrency. During purchase, a crypto wallet is automatically created for the user, and buyers can use cryptocurrencies from one chain to buy NFTs on another chain. Crossmint is currently powering storefronts and marketplaces for Manifold, Magic Eden, and Tensor.
6. Authentication: Crossmint Auth is a fully managed authentication service supporting both Web3 and traditional login methods, such as email one-time passcodes (passwordless), or sign-in via Google, Apple, X, and other social accounts.
In summary, Crossmint enables businesses to easily create embedded wallets (custodial or non-custodial), issue and distribute NFTs, and manage on-chain credentials. For end users, it delivers a seamless, web2-like experience with FaceID, email login, and gasless interactions. Moreover, Crossmint’s services are highly modular and flexible, covering wallet creation, tokenization, and payment processing, while supporting credit cards, Apple Pay, and over 50 cryptocurrencies. For example, a retail brand can rapidly launch an NFT collection and seamlessly integrate it with existing e-commerce systems—making Crossmint adaptable to diverse needs ranging from startups to financial institutions.
Additionally, Crossmint has built dedicated APIs for AI agents, enabling them to autonomously manage funds, execute transactions, and obtain digital credentials. Its open-source GOAT SDK allows agents to have wallets and perform swaps, transfers, DeFi position management, NFT trading, and even purchase physical goods across any blockchain. For instance, Crossmint recently launched a Slack bot that, powered by Vercel, Solana, Circle, and the GOAT SDK, can use USDC via Crossmint Headless Checkout to purchase office supplies on Amazon.
Conclusion
Crossmint is not only a technology-driven company but also a bridge connecting traditional business with the blockchain future. Since inception, Crossmint has seen explosive growth—its subscription revenue surged 1100% year-on-year, reflecting strong market demand for its solutions. Today, Crossmint counts global brands such as Adidas and Red Bull among its clients and serves over 40,000 businesses and developers.
As envisioned, when all businesses and AI agents move on-chain, Crossmint may well become a pivotal enabler of this transformative wave.
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