Very proud of this one!
We’ve been living the “enterprises actually want stables in production” story every week. Nice to see the raise match that pace.
More to come soon!
Excited to announce our $110M raise to scale our stablecoin-native banking platform for global enterprises across 35 countries (10 new countries!) 🚀🦁
Our stablecoin business crossed $1.5B annualized volume in just 8 months, driven by exponential enterprise demand. Since signing the Series C-1 term sheet, revenue has grown more than 50% in a few months. The pace is accelerating.
As we go deeper into the stablecoin ecosystem, I'm pumped to have @coinfund lead the round, joined by @AB_insights, @a16z, @cbventures, @CRV, GIC, @gpt, @paraficapital, Vista, @wmt_ventures, @ycombinator and others.
Also grateful to have the best founders building in the space joining the round: @zcabrams (Bridge, OUSD), @psneville (Circle, Catena), @sternhenri (Privy), @prabhakar2reddy & @karan705 (OpenFX), @SamBroner (Better Money Co.) and Ricardo Marino (Global Chairman at Itaú), among others.
Over the last year, AI & stablecoins have powered us to an inflection point. Today, we have fewer employees than we did two years ago, while revenue and volume have grown more than 10x crossing $5B in annualized TPV. AI is embedded across Jeeves and has fundamentally changed how we build and operate.
Alongside the round, we're launching:
💸 Jeeves stablecoin wallets: Our custom built wallets supporting USDC and USDT, with payouts to 190 countries, all in one platform.
💳 Cards in 10 more countries: Argentina, Peru, Paraguay, Uruguay, Panama, Guatemala and others. The same award winning expense management platform used by BMW, Burger King and H&M are now available in these markets.
🧾 Accounts Receivable (AR): Alongside our core Cards and AP modules, we're launching our AR module, starting with Brazil 🇧🇷 This was one of the biggest customer requests!
📊 Jeeves Global AI Spend Tracker: We all know AI spend is growing but if you operate in six countries, with Claude spend in pesos & OpenAI spend in pounds, how do you actually know what you spent across models, countries, currencies & what drives ROI? Well now you do with our Global AI spend tracker across the globe 🌎
🇪🇸 Lastly, we opened our doors in Madrid to accelerate our expansion across EMEA, with a focus on stablecoin payment corridors between Europe & the world.
The next decade of global banking will be agentic and seamless between stablecoin and fiat. To build this companies need to own the primitives directly. This chapter is being written right now, and small teams with big ambition, powered by AI and stablecoins, will write it. We intend to be the company that defines it 🌎
Thank you to our customers, teammates and investors for the trust you put in us every day 🙏
If you want to shape the future of global money at the cutting edge of stablecoins and AI, come build it with us. It won't be easy but it will be fun 👉 tryjeeves.com/us/about-us
Day one of this next chapter starts now. It's time to build.
The interesting part isn’t “four products.” It’s a nationally chartered bank putting USDC/USDT next to cards and multicurrency as core rails, not a side experiment.
We started @column with the insane idea to rebuild every component of the financial system from scratch. Today, I think we've finally completed that build.
We're releasing four new products, so any technology company can build at the frontier of financial services.
It always amazed me how Tron conquered actual distribution with zero Western respect. Everyone else: grants, conferences but no stickiness.
Tempo is the only one that seems to be growing without subsidies.
Nu Global puts USDC and EURC under a multi-currency account and a Mastercard across 35+ countries.
Same pattern we see on the corporate side: settle on stables, spend and move on rails treasurers already trust.
ITS HERE! @Nubank's US bank has launched with savings, cards and remittances. 🚀
It's launching in partnership with Lead Bank while it waits for its full charter.
- Offers a 3.5% annual percentage yield (APY) on deposits.
- If you get a credit card, it becomes 4.5%
- The credit card has no annual fee with UNLIMITED 1.5% cashback on purchases.
- Cashback will be 2% if you bring over direct deposit.
- No annual fee with 1.5% cashback on purchases.
And coming soon a multi-currency, stablecoin-based account supporting interest earnings and transfers to 35 countries across Latin America and Europe
---
Listening to the co-founder Cristina talk about the nature of the US banking system
- The US banking system writes more checks than anywhere on earth
- The mortgage division doesn't know about your checking account
- Cashback cards always come with a catch
"All of that nonesense has a name, its called complexity, and its been the thing we've been fighting for 13 years"
When you move to the US, people who've seen what a bank can be with Nubank, they miss having a simple experience.
---
So here's the US launch: Nubank got conditional OCC approval in January, and they're announcing their proposition today.
Their first customer is the growing latin american diaspora.
Mexicans in the US send around $63bn home a year. Nu has 15m accounts in Mexico ready to receive it and a WhatsApp remittance rail built in 2024. The US bank puts Nu on the sending side of a corridor it already owns the receiving side of.
Can they make it?
BBVA, N26 and Monzo came to the US to fight Chime for the same customer, and left. Chime spent $635m on marketing last year to add 1.5m active users.
Nu's growth in Brazil was word of mouth. In the US, word of mouth crosses a border: your cousin in Guadalajara already has the purple card.
Vélez says Nu's cost to serve is 4% to 5% of a traditional bank's. That is how you fund a 4%+ savings rate and a no-fee card inside a $250m budget.
The first million US accounts come from the diaspora before Nu ever buys a Super Bowl ad
I'm interviewing David Vélez for the podcast TOMORROW. What would you ask him?
Circle didn't buy a stablecoin story. They bought a payout network where stablecoins were already ~60% of volume. The issuer is chasing the last mile.
Wondering who gets acquired next. Not many solid players left...
Circle has signed an agreement to acquire @tazapay, a cross-border payments company supporting businesses across 100+ markets.
Tazapay brings a payments-native team, 60+ banking and fintech partners, and meaningful stablecoin payment volume, with more than 60% of its volume running on stablecoins as of July 31, 2026.
Together, we’re working to expand stablecoin-powered payment infrastructure for businesses moving value globally.
circle.com/pressroom/circle-…
During the last 30 days, @jeeves_inc stablecoin volume doubled. In August it represented 76% of everything we processed.
Treasurers in LATAM don’t ask me about rails. They ask if the vendor payment to China clears before the ship leaves. And if it lives on the same ledger as the cards.
Trust did it. Speed was the excuse.
We are only getting started!!!
We hit our year-end goal in July. 🚀
@jeeves_inc enterprise stablecoin platform volume grew 17.7x YoY in H1 and crossed $1B+ annualized. It’s the fastest-growing product we’ve ever launched at Jeeves, and it takes advantage of the full stack global infrastructure we’ve spent years building: card issuing across 26 countries and payouts to 190+ countries. 🌎
Most stablecoin fintechs drive volume from SMBs and PSPs etc. Our volume is driven by actual enterprises using our infrastructure to pay vendors, making us one of the few real world use cases of enterprise stablecoin as scale.
Two factors drive this volume expansion:
🤝 First, stablecoin settlement is embedded directly into our existing card and AP rails instead of living as a separate product.
⚡️ Second, new and existing enterprise customers are adopting it for cross border payments, which drops delivery time from 1 to 2 days down to 1 to 2 hours.
A few examples from our largest customers show what this actually looks like in practice:
✈️ One of Latin America’s largest travel management companies is using stablecoins to make AP payments to vendors in Europe directly through Jeeves and is now evaluating expanding the infrastructure into additional countries.
📦 A large global import-export business, operating across 4 countries, consolidated multiple bank relationships onto Jeeves. They now convert USDT into USD supplier payments while financing shipments moving in and out of China.
Their CEO put it simply: “𝐽𝑒𝑒𝑣𝑒𝑠 𝑖𝑠 ℎ𝑜𝑤 𝑤𝑒 𝑘𝑒𝑒𝑝 𝑜𝑢𝑟 𝑜𝑝𝑒𝑟𝑎𝑡𝑖𝑜𝑛𝑠 𝑚𝑜𝑣𝑖𝑛𝑔 𝑤𝑖𝑡ℎ𝑜𝑢𝑡 𝑡ℎ𝑒 𝑑𝑒𝑙𝑎𝑦𝑠 𝑤𝑒 ℎ𝑎𝑑 𝑡ℎ𝑟𝑜𝑢𝑔ℎ 𝑡𝑟𝑎𝑑𝑖𝑡𝑖𝑜𝑛𝑎𝑙 𝑏𝑎𝑛𝑘𝑖𝑛𝑔.”
📡 A Mexican telecom provider is using our proprietary Jeeves infrastructure to lock in competitive pricing on USD/MXN rates on vendor payments, all inside the same platform they already use for cards and managed on one ledger.
This is what happens when stablecoin infrastructure isn’t a side bet. It’s embedded into the financial platform enterprises already use every day.
Jeeves is building the n of 1 version of what global enterprise financial infrastructure should look like. We are hiring and have a lot to share soon as our surface area expands 👀🦁
90 days in at @jeeves_inc . What does liftoff look like?
Before I joined, @thazhmon and I kept coming back to the same idea: the bottleneck in stablecoin adoption isn't the rails. It's trust and distribution.
Most players are building rails with no one to ride them. Jeeves already had the riders: a global enterprise customer base across 25 countries, moving real money across borders, every day.
The bet was simple. Pair infrastructure that took us years to build, including our own ledger across 25 countries, with existing distribution across real enterprise customers. Growth becomes inevitable.
But a thesis doesn't execute itself. What turns a thesis into a chart like this is the team behind it: the people at Jeeves who were quietly building the right product for the right customers, way before stablecoins were "cool".
The proof is in the use cases already live:
🇲🇽 One of the largest logistics providers in Mexico using our stablecoin payouts to China
🇦🇷 Argentine businesses spending internationally on cards, settled in stablecoins in seconds
🇧🇷 Brazilian ecommerce companies getting paid via ACH or Fedwire in the US, no US entity required
These aren't pilots. These are real businesses solving real cross-border problems, today.
June volume grew 70%+ over May. In just 90 days, our stablecoin TPV has grown triple digits. This is what compounding feels like.
We're just getting started 🚀
🤖 Made with AI
Most stablecoin infrastructure companies are building products that will be white-labeled by someone with better distribution.
Corporate treasury teams don't switch vendors just because the rails are faster. They switch because someone they already trusted told them to.
The infrastructure race is real. But the distribution race is where the value gets captured.
Fedeja retweeted
Quick stop in Cdmx 🇲🇽 after a week in Rio & São Paulo 🇧🇷 for the @Bitso stablecoin conference kick off. Excited to share several @jeeves_inc stablecoin launches on stage tomorrow - stay tuned! 👀🚀🦁 – at Cuauhtémoc, Distrito Federal
Two types of stablecoin companies exist:
(i) Infrastructure with no distribution
(ii) Distribution with no stablecoin infrastructure
The first is where most of the innovation lives.
The second is where most of the revenue lives.
After 4+ years at Conduit building GTM from zero, I moved to @jeeves_inc for one reason.
They've solved the harder problem.
Getting a corporate to trust you with their treasury or payables workflow takes 12-18 months minimum. You need a track record, a compliance story, and a product they already use for something else.
Jeeves has all three.
P.S. We have just launched Argentina and we are crushing it.
