Transak completes $16 million strategic financing, led by Tether and IDG Capital

According to BlockBeats, on August 12, Web3 payment infrastructure company Transak raised $16 million in strategic financing, with this round led by IDG Capital and Tether, and participated by Primal Capital, 1kx, Protein Capital, and Fuel Ventures.

Transak plans to use the funding to expand its stablecoin payment stack and enter new markets.