Transak Secures $16M in Funding to Expand Stablecoin Payment Solutions

Transak, a leading Web3 payments infrastructure provider, has raised $16 million in a strategic funding round co-led by IDG Capital and Tether. The investment will fuel the expansion of its stablecoin payment solutions and operational scaling into new markets. Transak's platform has already processed over $2 billion in transactions, with stablecoins accounting for nearly 30% of the volume.

The funding arrives as stablecoin adoption surges globally, with the sector's market capitalization more than doubling from $130 billion to $270 billion. Transak supports fiat-to-stablecoin conversions through APIs across 75+ countries, positioning itself at the forefront of this financial revolution. 'Stablecoins have evolved beyond mere crypto assets—they're becoming rails for global value transfer,' noted Transak CEO Sami Start.