Deep Tide TechFlow news, on August 12, according to CoinDesk, Web3 payment infrastructure company Transak completed a $16 million strategic financing round, led jointly by IDG Capital and stablecoin issuer Tether, with participation from institutions such as Primal Capital, 1kx, Protein Capital, and Fuel Ventures.
It is reported that Transak plans to use this round of financing to expand its stablecoin payment technology stack and explore new markets. Data shows that the company has processed over $2 billion in transaction volume, with nearly 30% coming from stablecoin traffic. Currently, Transak has obtained licenses in multiple jurisdictions including the United States, the United Kingdom, the European Union, Canada, Australia, and India.