Summary
- The stablecoin trading platform Conduit announced that it raised $36 million in a Series A funding round.
- The round was led by Dragonfly Capital, with participation from other venture capitals.
- Conduit plans to use the funds to launch services in five Asian countries by the end of the year.
The stablecoin trading platform Conduit has reportedly raised $36 million in a Series A funding round.
According to Fortune Crypto on the 28th (local time), Conduit announced that it raised $36 million in a Series A funding round. The round was led by Dragonfly Capital, with participation from Sound Ventures, Altos Ventures, DCG, and Commerce Ventures. With this round, Conduit has accumulated a total of $53 million in funding. However, the company's valuation was not disclosed.
Conduit plans to use the funds to launch services in five Asian countries by the end of the year.
Kirill Gurtman, CEO of Conduit, stated, "Our goal is to make cross-border payments faster and cheaper," and "We aim to implement a one-stop solution for convenient exchange between fiat currencies and stablecoins."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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