Conduit, a stablecoin company founded in 2021, announced on Wednesday that it has raised $36 million led by Dragonfly Capital and Altos Ventures with participation from Sound Ventures, DCG, and Commerce Ventures. This round, a Series A, brings Conduit’s total funding to $53 million. The company did not disclose its valuation in the round.
Founder and CEO Kirill Gertman says Conduit’s goal is to make cross-border payments faster, cheaper and more reliable for businesses worldwide. He said that his company settles international payments with stablecoins—a type of cryptocurrency that is designed to maintain a value in line with the U.S. dollar—in an attempt to complete transactions more quickly than traditional banks.
