Jeeves raises more capital for its stablecoin platform.
Jeeves has officially announced a new raise of $110M for scaling its stablecoin operations and payments from clients in Latin America to 35 countries around the world.
This was led by CoinFund and with participation from Andreesen Horowitz, YCombinator, CRV, Coinbase Ventures, and others, including founders from the stablecoin space.
Its existing solutions spread across spending cards, expense management, multicurrency accounts, and prefunding, with around $1.5B in annualized volume.
Stablecoins Help Companies Go Global
Stablecoins are now seen as a tool to build a global fintech.
Jeeves also plans to rollout stablecoin wallets for top stablecoin payouts including USDC and USDT, integrate AI tracking across spending, as well as expanding into Europe.
This is helped by the rise of stablecoin card top-ups and spend.
Indeed, both stablecoin neobanks and stablecoin card providers like RedotPay are growing in part because of the underlying networks, such as Visa and Mastercard, make it easy to spend and receive balances globally.
On the other side, direct account-to-account stablecoin transactions enable 24/7 international transfers to be made regardless of banking hours or weekends.
LATAM is a big area of focus for many stablecoin companies.
Recently, Verda and Tether invested into Plenti for building stablecoin infrastructure in countries like Coloumbia and Peru.
