Conduit raises $36M for stablecoin, fiat cross-border payment network

Backed by rising use cases and institutional interest, stablecoin companies are attracting investors in 2025.

Conduit, a cross-border payments company based in Boston, has raised $36 million in a Series A funding round led by Dragonfly and Altos Ventures. The capital will go to scale its payment system and expand currency offerings across fiat and stablecoins.

Conduit markets its payment system as an alternative to the messaging network SWIFT, or Society for Worldwide Interbank Financial Telecommunications. Banks have relied on the SWIFT protocol to process wire transfers since the 1970s.

Conduit claims its platform offers a modern alternative, enabling near real-time cross-border settlements by combining stablecoins with local fiat currencies through crypto infrastructure.

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