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About Trace Finance
Trace Finance is a regulated financial infrastructure company that connects stablecoins with local payment networks, such as Brazil's PIX. Its core business involves offering multi-currency accounts (BRL, USD, EUR), stablecoin on/off ramps (converting between BRL and USDC within a minute), and cross-border payments covering over 15 countries via local systems like PIX, SPEI, ACH, and SEPA. The platform has processed over $10 billion in institutional cross-border transaction volume and serves as a key infrastructure provider for major global payment processors operating in Latin America.
Its main competitive edge lies in compliance. Trace Finance holds financial licenses in both Brazil and the United States, and operates in other regions through partner banks. This allows it to bridge the gap between stablecoin efficiency and local regulatory requirements. The market pain point it addresses is the "last mile" problem: stablecoins transfer quickly and cheaply, but they need a compliant entry and exit point to convert into local currency and reach beneficiaries' bank accounts. Trace Finance solves this by combining stablecoin settlement with regulated local banking rails.
In the past six months (March to September 2026), the company has faced a significant regulatory challenge. In late April 2026, Brazil's central bank announced new rules, effective October 2026, prohibiting electronic foreign exchange providers from using stablecoins for regulated cross-border payments. This directly impacts Trace Finance's core business model in its home market, forcing it to operate within stricter boundaries. Despite this, the company has continued to expand its compliance footprint and is planning to enter Asia-Pacific markets, including Singapore, Hong Kong, Japan, and South Korea, while deepening its presence in Mexico, Colombia, and Argentina.
Trace Finance completed a $32 million Series A financing led by CoinFund, with participation from Coinbase Ventures, Haun Ventures, and others. This marks a key milestone in institutional recognition of stablecoin payment infrastructure.
The company has processed over $10 billion in cross-border transaction volume, becoming the primary infrastructure provider for the top four global payment companies operating in Latin America, including dLocal. This established its leading position in the Brazilian market, where the central bank's classification of virtual asset cross-border flows as foreign exchange business drove institutional volume toward operators with real banking infrastructure.
Trace Finance, a stablecoin payments infrastructure firm, has made significant strides in the past six months. The company closed a $32 million Series A round led by CoinFund, with participation from Coinbase Ventures, Haun Ventures, Jump Crypto, and others, marking a 10x valuation increase from its seed round. Trace has processed over $10 billion in institutional cross-border volume and serves major clients including dLocal, Pagseguro, and OKX.
Looking ahead, Trace plans to expand its regulated footprint across Mexico, Colombia, and Argentina, while pursuing additional licenses in Singapore, the U.S., and other APAC jurisdictions. The company is developing new settlement products leveraging stablecoins and aims to deepen its product capabilities in FX, banking connectivity, and compliance. Trace's strategy focuses on becoming the primary financial services partner for payment service providers and enterprises expanding into emerging markets, building on its success in Brazil where it operates as one of the first providers with both eFX and VASP licenses under the central bank's recent regulatory framework.
Co-founders:
Bernardo Brites (CEO & Co-founder) - LinkedIn: https://br.linkedin.com/in/bebrites/en, Twitter: https://x.com/bebrites Rafael Luz (Co-founder & COO) Leone Parise (Co-founder & CTO) - LinkedIn: https://br.linkedin.com/in/leoneparise
Core executives:
Amanda Peçanha (Chief Compliance Officer) - LinkedIn: https://br.linkedin.com/in/amanda-di-marchi-pe%C3%A7anha/pt Ibiaçu Caetano (Chief Strategy Officer) - LinkedIn: https://www.linkedin.com/in/ibiacu/