Conduit raises $36m to take on Swift with stablecoin-based cross-border payments
Stablecoin-based cross-border payments platform Conduit has raised $36 million in a Series A funding round co-led by Dragonfly and Altos Ventures.
0
Sound Ventures, Commerce Ventures, DCG, USDC issuer Circle Ventures, Helios Digital Ventures, and Portage Ventures joined the round.
Conduit's cross-border payment network integrates stablecoins, USD and local currencies to provide what the firm claims is a faster, cheaper, and more reliable alternative to Swift.
Already connected into multiple local banks across North America, Latin America, Europe, Africa, and Asia, Conduit will use the capital to fuel expansion into additional markets and support a broader range of traditional and digital currencies through its real-time payment rails.
The round of funding comes on the back of strong growth, with transaction volumes growing 16 times through the Conduit platform between 2023 and 2024. The startup says it has saved clients over 60,000 hours in settlement times and generated fee savings worth over $55 million.
Kirill Gertman, CEO, Conduit, says: "Traditional cross-border payment systems do not meet the demands of modern businesses. Conduit's platform seamlessly bridges the gap between traditional banking and stablecoin technology, offering unparalleled speed, affordability, transparency and reliability."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
8 minutes ago
- Reuters
Twenty-five people hauled before French judge for crypto kidnapping attempt, court says
PARIS, May 30 (Reuters) - Twenty-five people will be brought before an investigating judge on Friday for attempting to kidnap the daughter of a wealthy crypto businessman and for criminal conspiracy, the Paris court said. Videos of the brazen kidnapping attempt, which took place in broad daylight on a Parisian street, were filmed and disseminated on social media, and showed three masked men wrestling with two people while their getaway van idled nearby. It was the third violent attack targeting crypto players and their families in recent months.
Telegraph
14 minutes ago
- Telegraph
Champions League final – bet365 Super Winnings Boost: Get 50% extra on bet builders
It's the Champions League final between PSG and Inter Milan on Saturday and bet365 is marking the occasion by offering a 50 per cent boost on winning bet builders. The deal is available for new and eligible customers. Take a look at our recommended Champions League final bet-builder picks below and read on for our expert analysis. PSG vs Inter – Champions League final bet builder @ 11/2 with bet365 Both teams to score PSG double chance Both teams to receive a card Yann Sommer 4+ saves Fabian Ruiz 1+ fouls Odds courtesy of bet365 Correct at the time of publication and subject to change. If you already have a bet365 account and are looking for a new bookmaker to use for this week's action, check out our list of the best free bets. Leg 1: Both teams to score Inter won their semi-final against Barcelona 7-6 on aggregate and, with PSG having proved their attacking prowess in the knockout rounds, this is a banker that adds some heft to this bet builder. Leg 2: PSG double chance PSG are favourites to win the final in 90 minutes but Inter can't be discounted and showed their fight to eliminate Barcelona, so we're cautiously backing the Parisians to avoid defeat during regular time. Leg 3: Both teams to receive a card There's a lot at stake and it would be a major surprise if there was not at least one card for each side. PSG received two yellows in the second leg of their semi-final against Arsenal, while Inter picked up five when they faced Barcelona at the San Siro. Leg 4: Yann Sommer 4+ saves Inter goalkeeper Yann Sommer made seven saves in each leg of the semi-final against Barca. With PSG sure to be firing plenty of shots, the 36-year-old looks guaranteed to have another busy night. Leg 5: Fabian Ruiz 1+ fouls PSG midfielder Fabian Ruiz has committed at least one foul in four of his previous five games, so there seems a strong chance that this final leg will be a winner. Champions League bet-builder verdict If you placed £10 on this bet builder at odds of 11/2 and it was successful, you would ordinarily win £55. With bet365's 50 per cent boost, you would receive an additional £27.50 in winnings, swelling your total winnings to £82.50 – effectively paying out at odds of just over 8/1. Uefa Champions League final Super Winnings Boost T&Cs: +18. Enhance your winnings by 50 per cent for your Uefa Champions League final bet builders bets with bet365. Only available to new and eligible customers. Bet builders must include 3+ selections and combined odds of 1/1 or greater. Bet restrictions and T&Cs apply.
The Sun
14 minutes ago
- The Sun
Xbox owners handed free games worth £200 to play in event including latest Call of Duty game & Football Manager 2024
XBOX owners are being handed access to free games worth £200 as part of a special weekend event. Gamers using the Microsoft platform will be able to get their hands on a slew of games during the event this weekend. 4 The games will be free to access and play for Xbox owners between May 29 and June 1 as part of the Free Play Days event. It will include access to the latest Call of Duty and Football Manager 2024 as well as several other top rated titles. An Xbox game pass membership will be required to get access to most of the titles. Both the latest Call of Duty and Tom Clancy's The Division 2 will be available until June 3. Football Manager 2024, Killer Klowns From outer Space: The Game and ARK: Survival Ascended will all be available until June 1. Gamers can get access to the titles by hunting them down in the Xbox store. Installing them onto your device will require you to be signed in, from their you can install the titles with your Xbox Game Pass Ultimate, Standard and Core membership. Downloading the titles on console will require gamers to click on the subscriptions tab in the Xbox Store and navigating to the Free Play Days collection. Each of the titles available during the Free Play Days event will be available at a discounted price during the event. To keep the fun going gamers can purchase the titles at discounted rates and keep their achievements and Gamerscore earned during the free play event. Xbox has warned though that discounts, percentages and title availability may vary by region. Both the Xbox One and Xbox Series XS will have access to the Free Play Days event. 4 4 ARK: Survival Ascended, Football Manager 2024 and Killer Klowns from Outer Space are available this weekend for Xbox Game Pass Ultimate, Standard and Core members These titles will be available from Thursday May 29 until Sunday, June 1. Call of Duty Black Ops 6 is free for all Xbox members to try from May 30 until June 3 Xbox Game Pass Game Pass Ultimate, Standard and Core membership not required for this title. Tom Clancy's The Division 2 is free for all Xbox members to try from May 29 until June 3 Xbox Game Pass Ultimate, Standard and Core membership not required for this title either. All points that are earned and downloadable content (DLC) that you bought during the event carries over if you buy the full game at the end of the free period.
