Web3 payment platform Transak has raised $16 million in a strategic funding round co-led by Tether and IDG Capital, with participation from CE Innovation Capital and others. This follows its $20 million Series A in 2023.

The Miami-based startup provides fiat-to-crypto rails for over 450 applications, enabling bank transfers, card payments, and NFT checkouts. Its infrastructure—featuring virtual accounts, liquidity routing, and compliance tools—has processed $2 billion in volume.

CEO Sami Start emphasized stablecoins’ role as “rails for global value transfer,” noting the funds will accelerate global scaling. Transak holds regulatory approvals across six regions and is expanding into the Middle East, Latin America, and Southeast Asia.

source: FinTech Futures

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