Transak has secured $16 million in a strategic funding round led by Tether and IDG Capital to expand its stablecoin payments infrastructure and enter new markets. Other investors also participated in the round. The company provides fiat-to-crypto services through a single API that supports bank transfers, cards, local payment methods, and virtual IBANs. Its platform is used by more than 450 applications in over 75 countries. To date, Transak has processed more than $2 billion in transaction volume, with nearly one-third related to stablecoin activity. Transak’s system offers regulated on and off ramps between fiat and digital assets, virtual bank accounts, real-time liquidity management, and compliance tools. These services allow applications, including exchanges, wallets, and financial platforms, to integrate fiat-to-stablecoin conversion without managing the operational requirements directly. The funding round also included Primal Capital, 1kx, Protein Capital, CEiC, KX VC, 3KVC, Genting Ventures, Fuel Ventures, and Umami Capital. Financial Technology Partners acted as the financial and strategic advisor to Transak during the transaction. Image: Freepik