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The stablecoin cross-border payment platform Conduit has completed a $36 million Series A financing round, led by Dragonfly and others.
Gate News bot news, the cross-border payment platform Conduit, powered by stablecoins, announced the completion of a $36 million Series A funding round, led by Dragonfly and Altos Ventures, with participation from Sound Ventures, Commerce Ventures, DCG, Circle Ventures, and existing investors Helios Digital Ventures and Portage Ventures.
According to reports, Conduit's cross-border payment network "integrates stablecoins, US dollars, and local currencies to provide businesses with a faster, cheaper, and more reliable alternative than the traditional SWIFT system."
Conduit has established connections with several local banks in North America, Latin America, Europe, and other regions, and will "utilize these funds to expand into other markets and support a wider range of traditional currencies and digital currencies through its real-time payment channels."
Source: Crowdfund Insider