Stablecoin payments infrastructure provider TransFi has raised $19.2 million in new funding to expand its cross-border payments platform focused on emerging markets.
The company said the round includes $14.2 million in Series A equity financing along with a $5 million committed liquidity facility. The investment was led by Turing Financial Group.
TransFi plans to use the capital to expand its presence across Southeast Asia, South Asia, the Middle East, Latin America and Africa. The company also intends to pursue additional regulatory licenses and grow its enterprise merchant network.
The platform uses stablecoins to settle international transactions, positioning itself as an alternative to traditional correspondent banking and SWIFT-based systems.
TransFi said its infrastructure supports remittances, global payroll, treasury transfers and merchant payouts. Its platform currently operates in more than 70 countries, supporting over 40 fiat currencies and more than 100 cryptocurrencies.
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