The fintech replacing banks in cross-border payments, one stablecoin at a time
- Conduit raised a $36 million Series A round led by Dragonfly Capital, increasing total funding to $53 million.
- The company claims to process over $10 billion in annual transaction volume for more than 5,000 merchants globally.
- Conduit shifted from decentralized finance to focusing on cross-border payments using stablecoins.
Conduit's innovative approach to cross-border payments through blockchain technology and stablecoins presents a significant opportunity to address the inefficiencies in traditional banking systems. However, as the company expands, it must navigate regulatory challenges and increasing competition in the fintech space. The focus on compliance and integration with local banking infrastructure will be crucial for its sustained success.
