Conduit, a cross-border payment company using stableecoins, has collected $ 36 million in a Serie A Round to expand its global payment rails, the company said Wednesday. The round was led by Dragonfly and Altos Ventures, with the support of Circle Ventures and Digital Currency Group among others.

Founded in 2021, the Boston-based start-up offers real-time payments that blend cryptoinfrastructure with traditional financial systems. Its platform supports both stablecoins and local Fiat currency, which helps companies in limited dollar access markets or unstable currencies move more efficiently.

The company claims that its clients have saved over 60,000 hours in settlement time and avoided more than $ 55 million in fees.

Stablecoins are one of the fastest growing sectors in crypto and an increasingly attractive target for venture capital investments. With their prices that are anchored to an external asset, predominantly to the US dollar, they act as an important piece of infrastructure for trade in digital asset. They are also increasingly popular vehicle for payments, savings and transfers, especially in developing countries, as a cheaper and faster alternative to traditional banking rails.

Conduit says funding will help it grow its footprint in Asia, Mexico and other parts of the world. Rob Hadick of Dragonfly Capital takes up the Conduit’s board of directors as part of the agreement.

“With billions of annual transaction volume already flowing through Conduit’s platform, it has proven that there is a better way to move money globally and that stablecoins are the future of cross -border payments,” Hadick said in a statement.

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