Enterprise payment solutions are making their way to crypto, with Tribal Credit raising $60M to facilitate cross-border transfers to Latin America.
Crypto-focused enterprise payment platform Tribal Credit has raised $60 million in an oversubscribed investment round, putting the company on track to continue its expansion in Latin America — a region that has seen significant uptake of blockchain-based cross-border payments.
The Series B investment round was led by SoftBank Latin America Fund, a venture fund that has invested in several fintech and software companies throughout the region. Coinbase Ventures also participated in the round alongside venture firms BECO Capital, QED Investors and Rising Tide. Tribal said it will use the cash injection to fund its operations across the region, including building local teams in Brazil, Mexico, Colombia, Peru and Chile.that was funded by dollars and stablecoins. Stellar Development Foundation , the non-profit organization supporting the Stellar blockchain, led the effort. Tribal Credit began integrating with Stellar in April 2021.to provide cross-border payment and settlement services for small- and medium-sized enterprises.
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