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Miami-headquartered Transak, a startup specializing in fiat-to-crypto infrastructure, has secured $16 million in a strategic funding round. The round was led by Tether and IDG Capital, with participation from CE Innovation Capital (CEiC), Primal Capital, Protein Capital, 1kx, KX VC, 3KVC, Fuel Ventures, Genting Ventures, and Umami Capital.
The fresh capital comes a year after Transak’s $20 million Series A, led by CEiC in 2023. The company stated that the funding will support the expansion of its stablecoin payments stack and accelerate growth into new markets, thereby strengthening its position as a key provider of web3 payment infrastructure.
Co-founded in 2019 by CEO Sami Start and CTO Yeshu Agarwal, Transak set out to simplify web3 onboarding. The company introduced its fiat-to-crypto on-ramp in early 2020 and has since grown into a leading infrastructure provider for stablecoin-powered payments.
The platform is now integrated with more than 450 applications and supports users in over 75 countries. Using a single API, it allows smooth conversion between fiat and stablecoins through bank transfers, cards, virtual IBANs, and local payment options. This reach makes Transak an important driver of broader digital asset adoption.
The startup’s platform brings together virtual bank accounts, compliance solutions, real-time liquidity routing, and regulated fiat on- and off-ramps. With this setup, apps such as wallets, exchanges, fintechs, and DeFi platforms can provide fiat-to-stablecoin conversion without managing the heavy operational infrastructure on their own.
So far, Transak has facilitated transactions worth more than $2 billion, with stablecoins accounting for close to 30 percent of that activity. By serving both individual users and institutions, the company positions itself as a key connector between conventional finance and the fast-growing digital asset space.
CEO Sami Start argues that stablecoins are evolving into the “rails for global value transfer.” He emphasizes that scaling their usage requires more than liquidity, pointing instead to robust systems for compliance, KYC, fraud prevention, and banking partnerships—capabilities Transak has developed and now aims to expand globally.
With regulatory approvals already secured in the US, UK, EU, Canada, Australia, and India, the company plans to push into new regions, including the Middle East, Latin America, and Southeast Asia. This expansion reflects the growing global demand for compliant, localized, and developer-friendly payment solutions in the stablecoin ecosystem.
Financial Technology Partners (FT Partners) acted as Transak’s exclusive advisor on the deal, guiding the company through what it described as a strategic and highly selective fundraising process. The advisory firm’s involvement underscores the significance of this round in positioning Transak for its next phase of growth.
Image credits: Transak