Stablecoin infrastructure firm Trace Finance said Wednesday that it raised a $32 million Series A round to help expand its reach.

CoinFund led the round, with Coinbase Ventures, Haun Ventures, Jump Capital, Paxos, Chainlink Labs and others participating.

Trace Finance closed a $32M Series A led by CoinFund, growing its valuation 10x from its 2022 seed round. The Brazil-based firm builds stablecoin payment