Transak Raises $16 Million From Tether and IDG Capital to Expand Stablecoin Payments Infrastructure

Transak, a fiat-to-crypto infrastructure provider, has raised $16 million in a strategic funding round led by Tether and IDG Capital to enhance its stablecoin payments infrastructure and expand operations into new markets.

The funding round also saw participation from several investors, including Primal Capital, 1kx, and Protein Capital. With over $2 billion in processed transaction volume, Transak aims to position stablecoins as the primary transaction layer for remittances, payments, and cross-border commerce. Co-Founder and CEO Sami Start emphasized the need for robust infrastructure, including compliance systems and banking partnerships, to facilitate the widespread adoption of stablecoins. Active in more than 75 countries, Transak enables seamless fiat-to-stablecoin conversions through local payment methods and a single API. The company holds regulatory approvals in key jurisdictions and is actively expanding into the Middle East, Latin America, and Southeast Asia.