Mural secures $15M Series A from Tether for unified payment platform

New York-based Mural has raised $15 million in a Series A round led by Tether, the stablecoin issuer, bringing its total funding to $28 million. North Island Ventures also joined the round, which closed this week. The company has not publicly shared its valuation.

The startup offers businesses a platform to manage U.S. dollars, local currencies, and stablecoins within a single system. Founded in 2022, Mural was created by Sinclair Toffa and Chris Fernandes, who previously worked together at Palantir. The company’s name reflects its vision of shared infrastructure—like a mural painted by many hands—where software connects different financial systems.

According to KuCoin, stablecoin payment volume reached roughly $400 billion in the first eight months of 2026, based on data from Alvarez & Marsal. Chainalysis reported that cross-border stablecoin flows totaled $220 billion between July 2025 and June 2026, marking a 78% increase from the prior year. Mural’s platform aims to address the complexities businesses face when moving money across borders, including delays, fees, and regulatory hurdles associated with traditional banking.

Mural’s CEO, Sinclair Toffa, told KuCoin the company is developing a “compliant record-keeping system” that allows businesses and fintech firms to build financial products on top of its infrastructure.

Tether’s participation in the round suggests a strategic interest in payment systems that operate continuously and globally. Paolo Ardoino, Tether’s CEO, stated that the investment aligns with expectations that AI agents will increasingly handle financial transactions, requiring seamless payment rails.

Toffa’s focus on cross-border payments stems from personal experience. At 15, he visited Togo, where he observed how remittances from the U.S. could take weeks to arrive and often came with high fees. Later, while at Palantir, he worked on integrating disparate systems—a challenge he now applies to connecting banks, payment providers, and stablecoin networks.

The Series A funding will support enhancements to Mural’s platform, which serves payroll providers, software companies, and fintech firms. The startup’s approach to blending fiat and stablecoin systems may appeal to businesses seeking efficiency, though regulatory and operational uncertainties remain.

Recent fintech funding rounds have emphasized cross-border payment solutions, with companies like Barq and Namespace raising significant capital. Mural’s model differs by explicitly integrating stablecoins, a sector that has grown rapidly but faces ongoing scrutiny.

Whether businesses will adopt Mural’s unified payment rails over existing solutions may depend on how effectively the platform addresses compliance and trust concerns. The broader question is how regulators and enterprises will respond to platforms that merge traditional finance with crypto-native tools.

Sources: kucoin.com