CoinFund has led a $110M equity round into Jeeves, a corporate banking platform betting that cross-border payments will increasingly settle on stablecoins rather than traditional rails.
AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi and Vista joined the round.
Jeeves started life as a spend-management and corporate-card provider for companies operating across borders, a market where legacy banking is slow and expensive. Over time it pushed stablecoins to the center of its stack, arguing that dollar-pegged tokens clear faster and more cheaply than correspondent banking networks.
The fresh capital funds a new cryptocurrency wallet with payouts reaching about 190 countries, a footprint that matters for companies paying contractors and suppliers in emerging markets.
Jeeves is not alone. Stablecoin infrastructure has become one of the busiest corners of fintech, with payment giants, card networks and a crop of startups all racing to move corporate money onto token rails. Regulators are still writing the rules, and the framework differs sharply by market.
The raise arms Jeeves to fight for enterprise customers against both legacy banks and crypto-native rivals.
