Web3 payment infrastructure company Transak has completed a $16 million financing round, led jointly by IDG Capital and Tether

according to CoinDesk, Web3 payment infrastructure company Transak announced the completion of a new funding round of $16 million, led by IDG Capital and Tether, with participation from Primal Capital, 1kx, Protein Capital, and Fuel Ventures.

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