tl;dr
Transak, a leader in fiat-to-crypto infrastructure, secured $16 million in funding led by Tether and IDG Capital to expand its stablecoin payments platform and scale operations globally. The company provides compliant, developer-friendly infrastructure supporting stablecoin transactions across 450 ...
A pioneering firm at the forefront of transitioning payments from traditional finance (TradFi) to decentralized finance (DeFi) has secured significant backing to further develop its product. Transak, a leader in fiat-to-crypto infrastructure, announced a $16 million funding round led by Tether and IDG Capital, aimed at scaling operations across new markets and expanding its stablecoin payments framework.
As stablecoins rapidly evolve into the internet’s transaction layer, powering payments, savings, and cross-border commerce, Transak focuses on building the necessary local, compliant, and developer-friendly infrastructure to support this shift. Sami Start, Co-Founder and CEO of Transak, emphasized the importance of comprehensive infrastructure, including compliance systems, KYC, fraud prevention, and banking partnerships, to make stablecoins usable at scale.
Integrated into over 450 applications, Transak currently facilitates fiat and stablecoin movements for users in more than 75 countries through a single API, supporting both retail and institutional clients. The platform has processed over $2 billion in transaction volume, with nearly 30% attributed to stablecoins.
Paolo Ardoino, CEO of Tether, highlighted stablecoins as the emerging backbone of digital payments, offering benefits traditional systems lack. Transak’s infrastructure accelerates adoption across emerging and developed markets, enhancing financial access and creating new opportunities for consumers and businesses alike.
Transak’s platform combines regulated fiat on and off-ramps, virtual bank accounts, real-time liquidity routing, and a full-stack developer toolkit. This suite enables any decentralized app, exchange, fintech, or platform to seamlessly convert fiat to stablecoins without additional operational workload. Holding regulatory approvals in key markets including the US, UK, EU, Canada, Australia, and India, Transak is actively expanding into the Middle East, Latin America, and Southeast Asia.