Fiat-to-crypto infrastructure provider Transak has raised $16 million in funding to expand its stablecoin payments stack.
Stablecoin player Tether and IDG Capital led the round, with participation from Primal Capital, 1kx, Protein Capital, CEiC, KX VC, 3KVC, Genting Ventures, Fuel Ventures and Umami Capital.
Transak enables users in more than 75 countries to move between fiat and stablecoins through local payment methods, bank transfers, cards, and virtual IBANs via a single API. Trusted by over 450 applications, the company has processed over $2 billion in transaction volume.
Transact argues that stablecoins are becoming the transaction layer of the internet, powering remittances, payments, savings, and cross-border commerce. It wants to be at the centre of this with its technology that enables any app - whether a wallet, exchange, fintech, or DeFi platform - to offer seamless fiat to stablecoin conversion without handling the operational complexity themselves.
The firm holds regulatory approvals in the United States, United Kingdom, European Union, Canada, Australia, and India and, with funding in place, now plans to expand into the Middle East, Latin America, and Southeast Asia.
“Stablecoins are no longer just a crypto asset. They are now the rails for global value transfer,” says Sami Start, CEO, Transak. “But making them usable at scale requires more than just liquidity. It takes real infrastructure: compliance systems, KYC, fraud prevention, banking partnerships, and deep crypto market knowledge. That’s exactly what we’ve built, and this round helps us scale it globally.”