Transak Raises $16M for Stablecoin Payments Expansion

Crypto infrastructure platform Transak has secured a $16 million funding round led by Tether and IDG Capital to accelerate the development of its stablecoin payment network. The investment will be used to expand into new markets, improve compliance and security, and ultimately reach wider global audiences. 2 Billion in transactions already flow through Transak’s platform, with stablecoins representing roughly 30% of that volume. The platform’s API allows users across 75+ countries to effortlessly move between fiat and stablecoins using a range of local payment methods.