Stablecoin company Conduit completes $36 million Series A funding, led by Dragonfly Capital

ChainCatche news, stablecoin company Conduit announced the completion of a $36 million Series A financing, led by Dragonfly Capital, with participation from Sound Ventures, Altos Ventures, DCG, and Commerce Ventures. This Series A round brings Conduit's total funding to $53 million, and the company did not disclose the valuation for this round of financing.

Conduit's goal is to provide global enterprises with faster, more cost-effective, and more reliable cross-border payment services, using stablecoins (a type of cryptocurrency designed to maintain value parity with the US dollar) for international payment settlements, aiming to complete transactions faster than traditional banks.