Jeeves raises $110M for stablecoin-native global payouts

Jeeves has raised $110 million in equity funding to build a stablecoin-native banking platform for global enterprises, with payouts across 190 countries. The round was led by CoinFund, with participation from Andreessen Horowitz, Coinbase Ventures, CRV, and others. The company plans to launch a cryptocurrency wallet alongside its existing spend management and corporate card products.

This is not another emerging-markets remittance play. Jeeves is targeting multinational corporations and high-volume businesses that already move money internationally—think marketplaces, logistics firms, or global payroll providers. The pitch is simple: stablecoins can settle cross-border transactions faster and cheaper than traditional banking rails, and Jeeves wants to be the infrastructure layer that makes that transition seamless for enterprises. The funding suggests investors believe there’s real demand here, not just hype.

The round’s size and backers stand out. $110 million is a rare amount for a Series B in this sector, especially given the cooling venture climate. The participation of a traditional asset manager hints at institutional interest in stablecoin-based treasury solutions beyond the usual crypto-native VCs. CoinFund’s lead role reinforces the thesis that stablecoins are maturing into a core financial infrastructure, not just a speculative asset.

Jeeves’ approach differs from other stablecoin-focused startups we’ve covered recently. HIFI, which raised $37 million last month, is building bridges between regulated banking and tokenized assets, while Walapay and Latitude are focused on consumer payments and emerging-market liquidity. Jeeves, by contrast, is betting on enterprises that need to move large sums quickly and reliably—use cases where stablecoins’ speed and cost advantages over legacy systems are most compelling.

The challenge will be adoption. Most enterprises still default to traditional banking for cross-border payments, and stablecoin usage remains concentrated among crypto-native firms and a handful of forward-thinking corporates. Jeeves will need to convince treasury teams that stablecoin rails are not just faster but also compliant, auditable, and reliable enough for large-scale operations. The company’s ability to integrate with existing ERP and accounting systems will be critical.

There’s also the question of competition. Traditional fintechs have built multi-billion-dollar businesses on optimizing cross-border payments, and financial institutions are slowly improving their own rails. Stablecoin-native platforms like Jeeves will need to prove they can outperform incumbents on both cost and user experience, not just speed.

The next six months will be telling. If Jeeves can onboard a few high-profile enterprise customers and demonstrate meaningful transaction volume, it could validate the thesis that stablecoins are ready for prime time in corporate treasury. If not, the round may end up looking like a bet on potential rather than proven demand. Either way, the funding itself is a signal: the stablecoin infrastructure race is heating up, and institutional players are placing big bets on who will own the stack.

Sources: siliconangle.com