Transak Secures $16M Funding to Expand Stablecoin Payment Network

Web3 payments infrastructure firm Transak has raised $16 million in a strategic funding round co-led by IDG Capital and Tether. The capital will fuel expansion of its stablecoin payments stack and entry into new markets, capitalizing on the sector's explosive growth.

Stablecoin market capitalization has surged from $130 billion to $270 billion in 2024, with Transak processing over $2 billion in transactions—30% from stablecoin flows. "Stablecoins are no longer just crypto assets," said CEO Sami Start. "They're becoming the rails for global value transfer."

Tether's participation underscores its market dominance, with USDT commanding 60% of the stablecoin market. The stablecoin giant has been actively deploying capital across crypto exchanges, sports franchises, and blockchain analytics firms.