Stablecoin payments infrastructure firm TransFi has raised $19.2 million in fresh funding to expand its stablecoin-powered cross-border payments platform targeting emerging markets.
In a statement released Tuesday, the company said it secured $14.2 million in Series A equity and a $5 million committed liquidity facility in a funding round led by Turing Financial Group.
The company plans to use the newly raised funds to expand in Southeast Asia, South Asia, the Middle East, Latin America, and Africa. It also seeks to pursue deeper regulatory licensing and scale enterprise merchant acquisition.
According to the release, TransFi positions itself as an alternative to traditional correspondent banking and SWIFT-based systems, using stablecoins to enable settlement for cross-border transactions. It noted that its platform supports global payroll, remittances, treasury movement, and payouts.
"Stablecoins are no longer theoretical instruments; they are becoming foundational infrastructure for global commerce," Raj Kamal, co-founder and CEO of TransFi, said in the statement. "This Series A allows us to scale our infrastructure across high-friction markets and continue proving that stablecoin-enabled payments are not the future, they are already happening."
TransFi said it is on track to achieve roughly $5 billion in processed transaction volume in fiscal year 2026. The company added that revenue has grown 16-fold since its 2024 seed round, with more than 2 million end users. The company currently operates in more than 70 countries, supporting over 40 fiat currencies and over 100 cryptocurrencies.
There is growing mainstream adoption of stablecoins in real-world payments. Stablecoin payment volumes reached over $350 billion in 2025, according to a recent Boston Consulting Group report.
Major participants in the global financial market are racing to build infrastructure on stablecoins. On Tuesday, Mastercard said it has agreed to acquire stablecoin infrastructure firm BVNK for up to $1.8 billion, including $300 million in contingent payments. PayPal has also expanded access to its PYUSD stablecoin to 70 markets.
Meanwhile, Hong Kong-based stablecoin payments firm RedotPay has reportedly been in talks to raise $150 million, with plans for a U.S. initial public offering that could value the company at more than $4 billion.
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