What does Conduit do?
Conduit provides a cross-border payments platform that empowers real-time transactions between stablecoins and local currencies using traditional payment systems such as SWIFT, ACH, FedWire, along with regional payment networks.
How much did they raise?
The company raised $36M in Series A funding, with Dragonfly and Altos Ventures taking the lead, alongside participation from Sound Ventures, Commerce Ventures, DCG, Circle Ventures, Helios Digital Ventures, and Portage Ventures.
What are their plans for the money?
With the new capital, Conduit plans to broaden its geographic footprint and expand the range of supported fiat and digital currencies, thereby enhancing global payment rails for faster and more efficient settlements.
What have they achieved so far?
The platform has already delivered significant results by saving clients over 60,000 hours in settlement times and generating fee savings exceeding $55M.
