Conduit is a cross-border payments platform powered by stablecoins that integrates stablecoins, USD and local currencies across bank and blockchain rails. Its single-API network connects banks, local payment systems and blockchains to settle transactions in seconds via real-time rails including SWIFT, ACH, FedWire and local systems in markets such as Mexico, Brazil, Colombia, China, Hong Kong, Nigeria and Kenya. The company reported transaction volumes grew 16x in 2024, surpassing $10 billion in annualized payment volume; it has 57 employees, serves more than 100 clients and experienced 105% year-over-year client growth. To date Conduit says it has saved clients over 60,000 hours in settlement time and generated fee savings of more than $55 million. The platform combines crypto-native infrastructure with traditional finance and includes integrated AML, sanctions screening and transaction monitoring. Conduit plans to expand further into Asia, strengthen its footprint in Mexico and add more fiat and digital currencies to its rails. Conduit provides a B2B cross-border payments platform that lets businesses pay U.S. dollars directly to bank accounts via ACH or SWIFT, even without a U.S. entity, and off-ramp stablecoins into local currencies where needed. The company pivoted from a crypto/DeFi focus to traditional finance after the 2022 crypto downturn and launched its B2B payments product in Latin America in August 2023. Conduit partners with local banks across its markets and leverages technology to speed payouts, earning revenue on the currency spread while assuring transparency for recipients. The fintech serves more than 50 direct clients, primarily import/export businesses, payroll services and other cross-border platforms. Since the pivot its annualized transaction volume has grown to over $5 billion, with 20% of volume from Kenya and Nigeria and a 25% month-on-month revenue increase across both regions. Management plans imminent expansion across additional African markets (including Ghana and South Africa) and into Asia, and is hiring a regional team led by Eric Wainaina. Conduit aims to break even and achieve profitability before the end of the year. Conduit builds a set of APIs that let developers and financial firms plug their products into decentralized finance, handling stablecoin conversion, ledgering and rate calculations. It offers two core solutions: a growth earnings account for neobank customers and a corporate treasury product for companies. The company emphasizes being regulated and compliant to reduce compliance burdens for clients. Conduit’s customers include neobanks and small cryptocurrency exchanges, with its largest clients in Canada and Brazil, and it launched its product initially in Canada. The company plans to triple its fully remote headcount over the next year across North America and Latin America, hiring engineering, sales and compliance staff. Regulatory uncertainty from the SEC has slowed its U.S. expansion, but Conduit is targeting entry into the U.S. and Europe next.

Total raised

$59M

Funding rounds

3

Latest round

Series A

Latest activity

May 2025