Fiat-to-crypto infrastructure provider Transak has raised $16 million in funding to expand its stablecoin payment capabilities.
Stablecoin player Tether and IDG Capital led the funding round, with contributions from Primal Capital, 1kx, Protein Capital, CEiC, KX VC, 3KVC, Genting Ventures, Fuel Ventures, and Umami Capital.
Transak enables users in over 75 countries to convert between fiat and stablecoins through local payment methods, bank transfers, cards, and virtual IBANs via a single API. Trusted by over 450 applications, the company has processed more than $2 billion in transaction volume.
Transak argues that stablecoins are becoming the transaction layer of the internet, facilitating remittances, payments, savings, and cross-border commerce. The company aims to provide technology that allows any app—be it a wallet, exchange, fintech, or DeFi platform—to offer easy fiat-to-stablecoin conversion without the operational complexities.
With regulatory approvals in the United States, the United Kingdom, European Union, Canada, Australia, and India, Transak plans to use the new funding to expand into the Middle East, Latin America, and Southeast Asia.
“Stablecoins are no longer just a crypto asset. They are now the rails for global value transfer,” states Sami Start, CEO of Transak. “However, achieving scalability requires more than just liquidity. It demands real infrastructure: compliance systems, KYC, fraud prevention, banking partnerships, and deep crypto market knowledge. That’s what we’ve built, and this funding will help us scale it globally.”