According to a report in Fortune, the crypto development platform Crossmint has completed a $23.6 million funding round, covering seed, Series A, and strategic financing, led by Ribbit Capital, with participation from Franklin Templeton, Nyca, First Round, and Lightspeed Faction.

Crossmint provides API tools to help developers easily integrate crypto functionality without the need for in-depth understanding of Bit chain technology. Its current clients include 40,000 businesses and developers, including Adidas, Red Bull, and Coinbase. Its Stablecoin API and AI-powered payment features are highly sought after, with a 1100% increase in subscriptions projected for 2024. Crossmint plans to further expand into the traditional finance and tech enterprise market, differentiating itself from competitors like Alchemy.