HIFI Raises $37M Series A to Build Settlement Rails for Tokenized Money

The funding was led by Left Lane Capital, and aims to expand the company's regulatory licenses, card products, and capital markets infrastructure. HIFI, the New York stablecoin infrastructure company that took part in DTCC’s July tokenized securities trades, raised a $37 million Series A led by Left Lane Capital, it said on Thursday, with the money going to licenses, cards and capital markets. Matthew Miller, Managing Partner at Left Lane Capital, joins the board. HIFI said its platform moves more than $7 billion a year and that usage among existing customers has grown more than fourfold in six months. Companies building on it have also onboarded more than 10,000 businesses and 200,000 individuals, with payouts reaching 87 countries, the team stated. Repo Trades and Visa Payouts Sumitomo is rebuilding its cash management and trading operations on the platform, Dapper is building digital marketplaces on it, and Arival Bank uses it for stablecoin payments. A Form D that HIFI Bridge, Inc. filed with the SEC on September 3 covers a $27.3 million equity offering, $21.8 million of which has been sold to 24 investors since a first sale on August 19. DTCC ran production trades with tokeniz...