HIFI Raises $37 Million to Scale Tokenized Capital Markets Platform
The New York-based company processes more than $7 billion in annualized volume across 87 countries and is expanding across bank rails and digital assets.
HIFI has raised $37 million in Series A funding to expand its tokenized capital-markets infrastructure and product suite as stablecoins gain a larger role in the crypto market.
The New York-based stablecoin-payments and tokenized-assets company’s round was led by Left Lane Capital. HIFI sells API infrastructure that combines money movement, compliance and settlement across bank rails and digital assets.
HIFI processes more than $7 billion in annualized volume across 87 countries. HIFI took part in DTCC production transactions in July involving securities tokenized through DTC, with BlackRock, Goldman Sachs and Nasdaq also participating.
HIFI also partnered with Visa earlier in September to extend its stablecoin settlement platform into money transfers and card payments. The initial rollout is designed to support stablecoin-funded payouts to more than 4 billion Visa cards worldwide.
The funding arrives as the total supply of dollar-pegged tokens has risen above $295 billion. Tether’s USDT accounts for about $183.4 billion of that amount, while Circle’s USDC supply is nearly $76 billion.
Visa’s stablecoin settlement business has reached a $20 billion annualized run rate, more than 15 times its level a year earlier. In a survey released Wednesday, 56% of U.S. adults said they would use stablecoins with bank-level fraud protection and deposit insurance, compared with 36% without those protections.
