Tether, IDG Lead Funding for Transak Expansion

Crypto payments infrastructure firm Transak has secured new investment in a funding round led by Tether and IDG Capital, joined by Primal Capital, 1kx, Protein Capital, CEiC, KX VC, 3KVC, Genting Ventures, Fuel Ventures, and Umami Capital. The company plans to use the capital to expand its operations into the Middle East, Latin America, and Southeast Asia.

Transak's API-based platform allows more than 450 partner applications - including wallets, exchanges, fintech providers, and DeFi platforms - to offer fiat-to-stablecoin transactions without building their own back-end infrastructure. Users in over 75 countries can convert between fiat currencies and stablecoins using local payment systems, bank transfers, cards, and virtual IBANs. Since its launch, the firm has processed more than $2 billion in transaction volume.

CEO Sami Start positioned the company's role as central to the next phase of digital value transfer. "Stablecoins are no longer just a crypto asset. They are now the rails for global value transfer," he said. "But making them usable at scale requires more than just liquidity. It takes real infrastructure: compliance systems, KYC, fraud prevention, banking partnerships, and deep crypto market knowledge. That's exactly what we've built, and this round helps us scale it globally."

Transak holds regulatory approvals in the US, UK, EU, Canada, Australia, and India. The company views stablecoins as a potential "transaction layer of the internet" for payments, savings, remittances, and cross-border commerce, and aims to position itself as a core provider of the infrastructure required to make such transactions mainstream.