Conduit raises $36M for stablecoin, fiat cross-border payment network

Conduit, a Boston-based cross-border payments company, has raised $36 million.

The funds will be used to scale Conduit's payment system and expand its currency offerings across both fiat currencies and stablecoins, as well as to support geographic expansion, including into Asia and additional global markets.

Conduit’s platform integrates stablecoins with local fiat currencies to enable near real-time cross-border settlements, providing a faster, cheaper, and more reliable alternative to the traditional SWIFT network used by banks since the 1970s.

Conduit currently supports 14 different fiat currencies and operates in nine countries, including the United States, Mexico, Brazil, Nigeria, and Kenya, working closely with over 20 banks to access local payment rails.

Since its launch in 2021, the platform has processed over $10 billion in transactions annually, serving more than 5,000 merchants and integrated by over 100 fintech platforms. The company claims to have saved clients over 60,000 hours in settlement times and more than $55 million in fees.

The investment reflects growing interest in stablecoins as a tool for global payments, with the stablecoin market capitalization reaching $247 billion as of May 2025, up 54% from the previous year.

Conduit’s CEO Kirill Gertman emphasizes the platform’s role as a one-stop solution for converting between local currencies and stablecoins, leveraging crypto infrastructure to modernize cross-border payments.

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