Trace Finance raise $32M for stablecoin payments amid Brazil crypto FX rules

Stablecoin payments company Trace Finance don raise $32 million for Series A to grow im bank-grade settlement network. CoinFund lead di round, and e get backing from Coinbase Ventures, Haun Ventures and Jump Capital, plus strategic involvement from Chainlink Labs and investors wey connected to Circle and Solana. Trace Finance talk say dem dey link banks for Brazil and United States to stablecoin settlement networks and dem don process over $10 billion for cross-border transactions. The new funding go support more settlement products to deepen licensed banking integrations, and the company plan move beyond the U.S.–Brazil corridor enter more markets for Latin America, the U.S., and Asia-Pacific. One big catalyst na Brazil reclassify cross-border crypto flows as foreign-exchange operations. That change dey push institutions to licensed intermediaries instead of less-regulated crypto venues—environment wey favor stablecoin payments rails wey fit clear compliance hurdles. CEO Bernardo Brites talk say the approach na "stablecoins plus regulated local bank infrastructure," and him argue say stablecoin payments alone no enough for cross-border scale. For traders, the takeaway na ecosystem tailwind: continued institutional demand for stablecoin payments infrastructure. E dey more likely to support sentiment about compliant settlement volumes than to act as direct BTC spot catalyst.