From September 19th to 25th, 8 disclosed crypto and blockchain financings totaled over $104.2 million. Among them, HIFI completed a $37 million Series A financing round, which was the largest venture capital deal of the week; Forward Industries raised $25 million through a registered private placement to expand its SOL treasury.
Stablecoin payment projects are at the forefront.
Several large-scale financings this week were focused on stablecoin payment and settlement infrastructure. Three related projects, HIFI, Atum, and MeshWallet, disclosed a total financing of 60.5 million US dollars, indicating that funds are still flowing towards payment networks, wallets, and clearing tools that connect stablecoins with traditional financial services.
HIFI announced on September 24th the completion of a $37 million Series A financing round, led by Left Lane Capital. The company stated that this funds will be used to advance the construction of a stablecoin settlement platform, expand into card issuance and tokenization capital market services, as well as to increase the team size and strengthen compliance coverage.
This company, headquartered in New York, primarily provides payment infrastructure that connects stablecoins with traditional financial services. HIFI mentioned in the announcement that its platform has integrated Visa Direct for payment disbursement and is connected to Circle Payments Network. The company claims that its platform's annual processing volume has exceeded $7 billion, but this figure is a business indicator and not the amount raised in this round of financing.
Atum and MeshWallet Announce New Financing
Atum ended its stealth operation on September 22 and simultaneously announced the completion of a $13.5 million financing round. The investors include Variant, PayPal Ventures, Abstract Ventures, Road Capital, Mirana Ventures, First Commit, and Credibly Neutral. The company did not specifically label this round as a seed round or Series A.
Atum is building a transfer coordination network that spans stablecoins, blockchain systems, and other payment networks. The company states that it does not issue any currency nor does it hold client funds, targeting financial institutions and stablecoin card issuers as its primary customers.
Based on TRON, MeshWallet has also completed a $10 million private financing round, with investors being private individuals and small family offices. The company stated that the funds will be used to develop self-hosted wallets and to expand services for retail and corporate users. Its products allow users to send TRC-20 USDT without the need to separately hold TRX to pay for on-chain fees.
Other projects cover collectibles and on-chain transactions.
In addition to the aforementioned projects, CatchBack completed a seed round of financing of $8 million, led by Foundation Capital, with participation from Y Combinator, Robinhood Ventures, Coinbase Ventures, and Solana Foundation. This project combines digital blind boxes with physical trading cards, allowing users to trade or exchange them.
Infini announces the completion of a $6 million seed round of financing. The platform provides account, payment, card, and fund management services, and uses stablecoins for settlement. DefiLlama lists the investors as Reforge, Enlight Capital, Fortwest Capital, NexGen Capital, SNZ Capital, and Vernal Capital.
Among funding rounds under $5 million, the on-chain pricing protocol functionSPACE completed a $1.7 million Series B funding round pre-seed, led by Maven and Capital, with participation from Blockwall and Smape Capital.
Additional information:There are two additional financings with undisclosed amounts that have not been included in the total: XStable received support from YZi Labs, Sui Foundation, Taisu Ventures, and CatcherVC; the project focuses on the infrastructure for on-chain transactions in the precious metals and foreign exchange markets. Travix completed a seed round of financing, and DefiLlama shows that Amber Group was the lead investor; this project focuses on on-chain perpetual contracts.
