Mural raises $15M led by Tether to unify cross-border payments

New York-based Mural has raised $15 million in a Series A round led by Tether, the stablecoin issuer, to simplify how businesses manage international payments. The startup, founded by former Palantir engineers, offers a single platform that consolidates traditional currencies, local money, and stablecoins into one account.

The round, announced on October 20, 2026, brings Mural’s total funding to $28 million, according to Fortune. Tether was joined by North Island Ventures, though Mural declined to disclose its valuation. The company plans to use the capital to expand its platform, which targets payroll providers, software firms, and fintechs looking to streamline cross-border transactions.

Mural’s pitch centers on the friction of global payments. Businesses today must navigate banks, payment processors, and varying regulations—a problem the founders say mirrors the data silos they encountered at Palantir. CEO Sinclair Toffa described the platform as a “compliant system of record” that lets companies build financial products on top of it. The idea emerged from Toffa’s experience sending remittances to family in Togo, where transfers could take weeks and cost up to 20% in fees.

Stablecoins are central to Mural’s approach. These dollar-pegged cryptocurrencies enable near-instant, low-cost transfers across borders, and their adoption is accelerating. Cross-border stablecoin flows surged 78% year-over-year to $220 billion between July 2025 and June 2026, per Chainalysis, while total stablecoin payments reached $400 billion in the first eight months of 2026. Tether’s investment reflects a bet that AI agents will soon handle financial transactions, requiring round-the-clock payment systems with global reach.

The startup’s name, Mural, may suggest a collaborative approach, as the founders have indicated. Its 30 employees are spread across offices in New York, Denver, and Bogotá, with remote teams in Argentina, Chile, Ecuador, and Mexico. The company joins a wave of startups working on stablecoin infrastructure, including recent raises by Utila, VelaFi, and OpenFX.

Tether’s involvement is notable given its dominance in the stablecoin market. The company minted $15 billion in profit last year, and its CEO, Paolo Ardoino, has argued that stablecoins are ready for mainstream adoption. Mural’s funding round suggests investors see potential in tools that connect crypto-native systems with traditional finance.

The path forward for Mural may depend on how it addresses the complexities of cross-border payments. If successful, the startup could play a role in shaping how businesses adopt stablecoins for global commerce.

Sources: finance.yahoo.com