HIFI raises $37 million to expand stablecoin payments and tokenized markets

Stablecoin infrastructure company HIFI has raised $37 million in a Series A round led by Left Lane Capital, as demand for stablecoinbased payments and crossborder transfers continues to grow. The company said the round is its first priced funding event, but it did not disclose a valuation. HIFI CEO Zach Walsh said the platform is processing about $7 billion in annualized volume. HIFI plans to use the funding to expand its stablecoin payments products and tokenized capital markets infrastructure. Its technology helps customers move funds between dollars and stablecoins, send payouts through U.S. banking rails and cards, and settle the cash side of tokenized repo and Treasury transactions in dollars. The raise comes as more financial activity moves onchain and as firms such as Visa and DTCC test blockchainbased infrastructure. HIFI has also expanded into cardbased payouts through Visa Direct, while Visa has reported growing stablecoin usage across its payments network.