Jeeves Raises $110M as Stablecoin Volume Hits $1.5B

Jeeves secured a $110 million CoinFund-led round to scale stablecoin banking, after stablecoin volume went from zero to $1.5 billion in eight months.

Jeeves, the Miami-headquartered expense management and banking platform, has raised $110 million in a Series C-1 equity round led by crypto-focused investment firm CoinFund, with participation from Coinbase Ventures, Andreessen Horowitz, Y Combinator, AllianceBernstein, GIC, ParaFi, Vista, Wintermute, CRV, Global PayTech Ventures and others. The capital funds a stablecoin wallet supporting USDC and USDT with payouts to 190 countries, an AI spend-tracking product, an accounts receivable module, and expansion of the stablecoin corporate card to 10 new countries, primarily in South America, alongside a new Madrid office to drive EMEA expansion.

The striking number behind the raise is the speed of the stablecoin pivot. Jeeves began in 2019 as a conventional fintech handling multi-country expense tracking on traditional banking rails, and only in late 2025 began pivoting to stablecoin-backed solutions to bypass slow, expensive correspondent banking networks. "We built Jeeves as a banking platform on stablecoin rails because that's the only way to give companies the same speed and cost structure moving money between São Paulo and Berlin that they get transacting within one country," Thazhmon told SiliconANGLE.

It is uncommon for a company that raised a $180 million Series C led by Tencent in 2022 at a $2.1 billion valuation to reverse course so completely on core infrastructure. Jeeves is now betting its next growth phase on stablecoins in a market SiliconANGLE values at roughly $290 to $306 billion, with around 98% of tokens pegged to the US dollar. The bet appears to be paying off operationally: Thazhmon says the company has fewer employees than two years ago while revenue and volume have grown more than 10x, crediting AI embedded across the business with fundamentally changing how it builds and operates. Clients on the platform include BMW, Lululemon, H&M, Burger King and Nubank.

Jeeves plans to expand its stablecoin card offering from 25 to 35 countries, adding Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay and Uruguay — nearly every market in Central and South America, per SiliconANGLE — on top of existing coverage in North America, the UK and Europe. The new Madrid office is explicitly aimed at stablecoin payment corridors between Europe and the rest of the world, Thazhmon told FinTech Futures. The company will also roll out a proprietary stablecoin wallet with instant payouts in 190 countries, a global AI spend-tracking solution and an accounts receivable module. Angel investors in the round include Bridge's Zach Abrams, Circle's Sean Neville and Privy's Henri Stern, per FinTech Futures.