TechFlow, August 12 — According to CoinDesk, Transak, a Web3 payment infrastructure company, has raised $16 million in a strategic funding round led by IDG Capital and Tether, the stablecoin issuer. Primal Capital, 1kx, Protein Capital, and Fuel Ventures also participated in the round.
Transak plans to use the funds to expand its stablecoin payment technology stack and enter new markets. The company has processed over $2 billion in transaction volume to date, with nearly 30% coming from stablecoin transactions. Transak is currently licensed in multiple jurisdictions including the United States, the United Kingdom, the European Union, Canada, Australia, and India.
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