Conduit Secures USD 36 Million in Series A Funding for Global Expansion

The funding was co-led by Dragonfly and Altos Ventures, with contributions from notable firms such as Sound Ventures, Commerce Ventures, DCG, and Circle Ventures, the issuer of USDC. Existing investors Helios Digital Ventures and Portage Ventures also joined the round.

Conduit is a cross-border payments platform that integrates stablecoins, USD, and local currencies. The company’s network connects numerous banks across North America, Latin America, Europe, Africa, and Asia. The capital will be used to expand into new markets while supporting both traditional and digital currencies.

Transaction Volume Skyrockets

The platform saw transaction volumes increase sixteenfold from 2023 to 2024, according to company data. Conduit offers a combination of crypto-native infrastructure with traditional finance elements, enabling swift and secure global transactions that include integrated AML, sanctions screening, and transaction monitoring.

Key Benefits of Using Conduit

• Speed: Direct partnerships with banks worldwide result in faster transaction completion.
• Geographic Coverage: Support for a wide range of currencies and payment methods, including local currencies that experience high inflation in regions such as Latin America, Africa, and Asia.
• Strong Liquidity: Conduit’s network of institutional-grade foreign exchange providers ensures smooth execution of large transactions without liquidity issues.

The platform facilitates global transfers across diverse payment systems, including USD networks (SWIFT, ACH, FedWire) and local systems in Europe, the UK, China, and Nigeria. It addresses common challenges like limited USD access, low SWIFT connectivity, and high fees by allowing for efficient invoice settlement through real-time transitions between stablecoins and local currencies.