Conduit, a Boston-based firm specializing in cross-border payments, has successfully raised $36 million in a Series A funding round announced on May 28, 2025, co-led by Dragonfly and Altos Ventures.

This funding round also saw participation from Circle Ventures, Digital Currency Group, and previous investors, bringing Conduit's total funding to $53 million.

CEO Kirill Gertman highlighted that this capital will accelerate the company's mission to create a global payments infrastructure that promotes equitable economic opportunities.

The investment, supported by Circle's venture arm, will be used to expand Conduit's market reach and enhance its technology for smoother transactions.

With the new funding, Conduit plans to increase its presence in markets across Asia, Mexico, and other regions, while also diversifying its client base.

Conduit specializes in integrating stablecoins and local currencies to facilitate cross-border transactions, aiming to provide businesses with effective real-time payment solutions.

Gertman noted that traditional cross-border payment systems often fail to meet modern business needs, positioning Conduit as a faster, cheaper, and more reliable alternative to the outdated SWIFT system.

Currently, Conduit processes over $10 billion in transactions annually, serving more than 5,000 merchants and integrating with over 100 fintech platforms.

Since its launch in 2021, Conduit claims its clients have saved over 60,000 hours in settlement times and avoided more than $55 million in fees.

The platform aims to simplify cross-border payments, making them more efficient and accessible for users worldwide, thus enhancing the overall payment experience.

This investment reflects the growing interest in stablecoins for international transactions, as they provide stability compared to traditional cryptocurrencies.

As of May 28, 2025, the market capitalization of stablecoins has surged to $247 billion, marking a significant growth from $161 billion the previous year.