Stablecoin cross-border payment platform TransFi raises $19.2 million.

PANews reported on March 18 that TransFi, a stablecoin-based cross-border payment platform, has completed a $19.2 million funding round, including a $14.2 million Series A equity funding round and a $5 million committed liquidity funding round. The round was led by Turing Financial Group, a strategic investor in digital payments and financial infrastructure.

TransFi reportedly utilizes stablecoins as a settlement mechanism to provide emerging markets with an alternative to traditional correspondent banking and the SWIFT system. It supports over 40 fiat currencies and over 100 digital assets, integrates over 250 local payment methods, operates in over 70 countries, and serves over 100 clients and 2 million end-users globally. The new funds will be used to expand into Southeast Asia, South Asia, the Middle East, Latin America, and Africa, deepen its regulatory licensing efforts, and expand its liquidity network.