Conduit

Market position

Conduit positions itself as stablecoin-enabled infrastructure connecting fragmented cross-border payment systems, and as a modern alternative to correspondent banking and to single banking-partner dependency. As of its Series A announcement it reported a network spanning 14 currencies and more than 20 banks in nine countries, including the US, Mexico, Brazil, Nigeria and Kenya.

Conduit emphasizes handling both fiat and stablecoins through one API, an eight-bank US execution network intended to remove single-partner dependency, near-instant API-based account provisioning without manual review for standard KYC, compliance handled by default, and coverage of hard-to-bank regions and emerging-market corridors.

Technology

A single API abstracting multiple fiat rails and blockchains, with account provisioning at T+0 via API call, embedded FX, wallets supporting multiple stablecoins and chains with multiple custody options, built-in compliance routing (KYB/AML and transaction monitoring), and multi-bank execution routing across eight US banking partners. Conduit positions the API for AI-first developers and software agents and markets prompt-driven ('promptable') money movement.

Go-to-market

Self-serve developer onboarding with full sandbox access and public documentation, alongside a demo-led sales motion for enterprise and treasury buyers. Conduit also uses partnerships and integrations (for example with Circle Payments Network, Yuno, Tempo and Braza Group), industry events such as Money20/20 USA, and educational content including guides on the sponsored bank model, SWIFT and ACH. The site is offered in English, Spanish and Portuguese.

Fintechs, payment service providers, developers and platforms embedding financial services, banks seeking a correspondent-banking alternative, and enterprise treasury and finance teams. The company emphasizes businesses in emerging markets and historically hard-to-bank regions needing USD access, and says it can onboard customers from more than 100 countries.

Geography

Legal entities in Canada and the United States (Montana). Banking network across nine countries including the US, Mexico, Brazil, Nigeria and Kenya; rails covering the US, UK, eurozone, Mexico and Brazil; onboarding of customers from 100+ countries and payouts to 100+ markets. The Series A proceeds were designated in part for launching in five new Asian countries.

History

Sources indicate an earlier $17 million raise (referenced in a company blog post about unlocking decentralized finance for financial apps via a single API) and FinCEN MSB registration in Montana, followed by a $36 million Series A announced on 28 May 2025 that brought cumulative funding to $53 million. Subsequent blog announcements cover MXN and BRL currency launches, a Circle Payments Network integration, partnerships with Yuno, Tempo and Braza Group, and a 'promptable money movement' product.

Risks & controversies

Conduit is not a bank and depends on third-party licensed banking partners for banking services, creating partner and regulatory dependency; it operates under MSB registrations with FinCEN and FINTRAC and Canadian payment service provider registration with the Bank of Canada. Its stablecoin-based model exposes it to digital-asset regulatory developments. Certain jurisdictions are unsupported or require enhanced due diligence. No controversies are reported in the sources.