TransFi raises $19.2 million, led by Turing Financial Group.

According to Mars Finance, on March 18th, The Block reported that stablecoin payment company TransFi announced the completion of a $19.2 million funding round, including a $14.2 million Series A equity funding round and a $5 million liquidity commitment, led by Turing Financial Group. The company is a stablecoin-based cross-border payment infrastructure provider focused on emerging markets, aiming to become an alternative to traditional correspondent banking and the SWIFT system. Its platform utilizes stablecoins to facilitate cross-border transaction settlements, supporting global payroll payments, remittances, treasury fund flows, and payment outflows. Currently, the company operates in over 70 countries, supporting more than 40 fiat currencies and over 100 cryptocurrencies.