#188: Inside Trace Finance's $32M Series A Raise

Rafael Luz and Bernardo Brites are co-founders of Trace Finance, a Brazilian cross-border payments infrastructure company. They join host Aaron Stanley at the Bitso Stablecoin Conference in Mexico City to discuss the company's $32 million Series A and the launch of a BRL-backed stablecoin.The company recently raised a $32 million round led by CoinFund, with Coinbase Ventures, Jump, Paxos, and others.Trace is launching what it expects to be the largest BRL-backed stablecoin, aimed at giving global companies access to Brazilian real for the first time without running into Brazil's capital controls.You can connect with Bernardo and Rafael on Linkedin-------------------------------------------------------Bits and Borders is presented by SumsubSumsub recently released its fourth annual State of the Crypto Industry report. The new research reveals how digital asset companies are balancing fraud prevention, regulatory pressure, and user experience as they scale in 2026. This report draws on Sumsub’s internal data from 2024–2025 and insights from 300 crypto companies surveyed outside Sumsub’s customer base.Read the full report here: