Funding & Investor Backing
Transak, a leading fiat-to-crypto provider, has successfully raised $16 million in new funding. Significantly, stablecoin giant Tether and venture firm IDG Capital jointly led the investment round. Additionally, support came from Primal Capital, 1kx, Protein Capital, CEiC, KX VC, 3KVC, Genting Ventures, Fuel Ventures, and Umami Capital. This injection will accelerate the expansion of Transak’s stablecoin payment infrastructure worldwide.
Global Payment Capabilities
Currently, Transak operates across 75+ countries, enabling seamless conversion between traditional money and stablecoins. Critically, it supports local payment methods, bank transfers, cards, and virtual IBANs through a single API. The platform has processed over $2 billion in transactions and serves 450+ applications, including wallets, exchanges, and DeFi platforms. By handling compliance, KYC, fraud prevention, and liquidity internally, Transak allows partners to offer fiat-stablecoin conversions without operational burdens.
Strategic Vision for Stablecoins
Importantly, Transak positions stablecoins as the internet’s new transactional backbone for remittances, payments, savings, and cross-border trade. CEO Sami Start emphasized their evolution: “Consequently, stablecoins now function as fundamental rails for global value transfer – not merely crypto assets. Scaling this requires robust infrastructure.”
Regulatory Expansion Plans
Building on existing approvals in the U.S., UK, EU, Canada, Australia, and India, Transak will target growth in three key regions:
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The Middle East
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Latin America
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Southeast Asia
Use of Funds & Industry Impact
The capital will primarily:
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Strengthen compliance systems
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Deepen banking partnerships
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Extend global market presence
Looking ahead, this investment signals strong confidence in stablecoin payment networks. Ultimately, Transak’s infrastructure aims to bridge traditional finance and digital assets efficiently while navigating complex regulatory landscapes worldwide. As demand grows, its unified API solution positions the company as a critical enabler for the next generation of financial applications.