Fintech startup Conduit raises Series A funding to challenge SWIFT with faster, cost-effective stablecoin-powered transactions
Highlights:
- $36M Series A Funding: Conduit secured investment from Dragonfly, Altos Ventures, and Circle Ventures to expand its payment network.
- Stablecoin-Powered Transactions: The platform integrates stable coins with local fiat currencies to offer a faster, cheaper alternative to SWIFT.
- Global Expansion Plans: Conduit aims to scale operations across North America, Latin America, Europe, Africa, and Asia.
Summary:
Boston-based fintech startup Conduit has raised $36 million in a Series A funding round co-led by Dragonfly and Altos Ventures, with participation from Circle Ventures, DCG, and other investors. The company is positioning itself as a modern alternative to SWIFT, leveraging stable coins and local fiat currencies to enable real-time cross-border settlements.
With transaction volumes growing 16x between 2023 and 2024, Conduit has already saved clients over 60,000 hours in settlement times and $55 million in fees. The fresh capital will fuel global expansion, supporting a broader range of traditional and digital currencies through its real-time payment rails.
Conduit’s CEO, Kirill Gertman, emphasized that traditional cross-border payment systems no longer meet modern business demands, highlighting the platform’s speed, affordability, transparency, and reliability.
This funding marks a significant step in reshaping global payments, as stable coins continue to gain traction in the financial sector
