Conduit

Market position

Conduit positions itself as a global money network built on stablecoins and an alternative to legacy correspondent banking, arguing that traditional cross-border rails are slow, opaque and costly while stablecoins connect fragmented payment systems. As of its May 2025 Series A, it reported a network of over 20 banks across nine countries, including the U.S., Mexico, Brazil, Nigeria and Kenya, and 14 supported currencies.

Stated differentiators include multi-bank execution across eight US banking partners instead of a single sponsor-bank dependency, near-instant (T+0) end-customer account provisioning without manual review for standard KYC, unified fiat and stablecoin settlement on one API, coverage of hard-to-bank regions, and an agent/AI-oriented, promptable developer interface.

Technology

A single API layer that abstracts multiple fiat rails and blockchains, enabling named pay-ins, virtual accounts, payouts and fiat–stablecoin on/off ramps. Multi-bank execution routes transactions across eight US banking partners for uptime, cost and compliance redundancy, avoiding a single point of failure. Compliance routing (KYB/AML, transaction monitoring) is built in, and account provisioning is automated via API. The company describes the API as built for AI-first developers and agents, with a 'promptable' money movement interface.

Go-to-market

Direct sales and self-serve developer onboarding (documentation, sandbox, demo requests) supported by a multilingual site (English, Spanish, Portuguese), educational guides on SWIFT, ACH and the sponsored bank model, a support/help center, partnerships with payment networks and infrastructure providers such as Yuno, Tempo, Braza Group and Circle Payments Network, and conference presence including Money20/20 USA.

B2B2B fintechs, payment service providers, developers and platforms embedding financial services, enterprise and corporate treasury/finance teams, and banks seeking an alternative to correspondent banking. Emphasis on businesses in emerging markets and historically hard-to-bank regions, with onboarding from 100+ countries.

Geography

Headquartered/registered in the US (Conduit Technology, Inc., operating from Montana) with a Canadian entity (12835304 Canada Inc.) registered with FINTRAC and the Bank of Canada. The about page cites presence in 14 countries. Banking network spans nine countries including the U.S., Mexico, Brazil, Nigeria and Kenya; payment rails cover the US, UK, eurozone, Mexico and Brazil; customers can be onboarded from 100+ countries, with payouts to 100+ markets. Series A proceeds were designated for launches in five new Asian countries.

History

Established in 2021 per the company's about page. A prior blog post describes raising $17 million to 'unlock decentralized finance for any financial app with a single API.' In May 2025 the company announced a $36 million Series A, bringing total funding to $53 million, alongside growth in volume, currency coverage and banking partners. Subsequent company blog posts reference FinCEN MSB registration in Montana, MXN and BRL currency launches, integration with the Circle Payments Network, and partnerships with Yuno, Tempo and Braza Group.

Risks & controversies

Conduit is not a bank and depends on third-party licensed banking partners for account and banking services, creating counterparty and regulatory dependency; it operates under MSB registrations with FinCEN and FINTRAC and PSP registration with the Bank of Canada, and serves higher-risk corridors where some countries are supported only with enhanced due diligence or not at all. No controversies are reported in the available sources.