The duct, a cross -border payment firm that uses Stablecoins, has raised $ 36 million in a series A round to expand its global payment rails, the company said on Wednesday. The round was directed by Dragonfly and Altos Ventures, with support of Circle Ventures and Digital Monine Group, among others.
Founded in 2021, the Startup based in Boston offers real -time payments that combine cryptographic infrastructure with traditional financial systems. Its platform is compatible with Stablecoins and Fiat Montones, helping companies in markets with limited access in unstable dollars or coins to move money more efficiently.
The firm states that its customers have saved more than 60,000 hours in liquidation time and have avoided more than $ 55 million in rates.
The stables are one of the fastest growing sectors in cryptography, and an increasingly attractive objective for risk capital investments. With its prices anchored to an external asset, predominantly to the US dollar, they serve as a key infrastructure piece for digital asset trade. They are also an increasingly popular vehicle for payments, savings and remittances, especially in developing countries, as a cheaper and faster alternative to traditional bank rails.
The duct says that financing will help him increase his footprint in Asia, Mexico and other parts of the world. Rob Hadick of Dragonfly Capital will join the conduit board as part of the agreement.
“With billions of annual transactions volume that already flows through the duct platform, it has shown that there is a better way to move money worldwide and that Stablecoins is the future of cross -border payments,” Hadick said in a statement.
Read more: Stablecoins could bring the ‘chatgpt’ moment to the adoption of Blockchain, reach $ 3.7t for 2030: Citi
