🚀 Conduit Raises $36M for Cross-Border Payments

Conduit, a cross-border payments platform, announced a $36 million Series A funding round co-led by Dragonfly and Altos Ventures. This investment will help the startup in its mission to connect traditional banking systems with stablecoin technology, making international money transfers faster, easier, and more cost-effective. Other investors include Sound Ventures, Commerce Ventures, DCG, and Circle Ventures. Conduit's platform supports nearly instantaneous global transfers across various payment systems, including USD networks like SWIFT, ACH, and FedWire, as well as local systems in Europe, the UK, China, Hong Kong, Mexico, Brazil, Colombia, Nigeria, and Kenya. As digital payment solutions gain prominence globally, Conduit aims to become a leader in cross-border payments. With its innovative blend of blockchain infrastructure and traditional finance, Conduit has significantly reduced settlement times and transaction fees for its clients, saving over 60,000 hours and $55 million. This progress addresses challenges in international transactions and positions Conduit as a vital player in the global economy.