HIFI, a stablecoin infrastructure company, has successfully raised $37 million in its first priced Series A funding round, led by Left Lane Capital. Although the company did not disclose its valuation, CEO Zach Walsh emphasized the significance of this funding in scaling its operations.
The demand for stablecoin payments is on the rise, with cross-border stablecoin flows increasing by 77.5% to $220.3 billion over the past year, according to Chainalysis. This growth comes even as the broader crypto market has faced a decline of over 30% during the same period.
HIFI's infrastructure enables users to convert dollars to stablecoins, facilitate payouts via US banking systems, and manage cash settlements for tokenized transactions. The funding will help HIFI expand its product offerings, including stablecoin payment solutions.
Notably, HIFI participated in recent tokenized securities trades alongside major firms like BlackRock and Goldman Sachs, showcasing its role in the evolving landscape of tokenized capital markets. Additionally, HIFI has launched card-based payouts through Visa Direct, allowing users to send stablecoin proceeds to Visa cards globally.
As Visa reports a surge in stablecoin usage across its network, with over 160 active stablecoin-linked card programs, HIFI is well-positioned to capitalize on the growing trend of digital payments and blockchain integration.