Transak Raises $16M From Tether and IDG Capital to Develop Stablecoin Payments Framework

A pioneering firm in the evolution from TradFi to DeFi in payments has received backing from prominent patrons to continue developing its product.

Backed By Giants

According to a press release shared with CryptoPotato, Transak, a leader in fiat-to-crypto infrastructure, has secured $16 million in funding to scale its operations across new markets and expand its stablecoin payments framework. The funding round was led by Tether and IDG Capital, along with a few other notable investors.