TechFlow News, June 17: According to The Block, stablecoin payment infrastructure company Trace Finance has closed a $32 million Series A funding round, led by CoinFund with participation from Coinbase Ventures and others. The company stated that its valuation has increased approximately tenfold since its seed round in 2022.
Trace Finance plans to use the proceeds from this funding round to expand its operations in Latin America and the Asia-Pacific region and to pursue additional regulatory licenses. The company reported having processed over $10 billion in institutional cross-border transaction volume to date.
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