Zynk, a cross-border payments infrastructure firm that uses stablecoins for instant settlements, has raised $5 million in seed funding led by Hivemind Capital. The round also included participation from Coinbase Ventures, Alliance DAO, Transpose Platform VC, Polymorphic, Tykhe Ventures, and Contribution Capital, the company confirmed. The funding was completed in August through a Simple Agreement for Future Equity (SAFE).
Co-founder and chief executive Prashanth Swaminathan indicated that the proceeds will be allocated towards expanding corridor coverage, enhancing liquidity and compliance systems, and establishing partnerships with large payment providers. "We’ve been building the financial pipes that make global payments instant," Swaminathan stated. "Access to pre-funding has become a moat in cross-border payments — and we’re breaking that moat."
Investor Takeaway
Building a Global Settlement Network
Zynk’s platform supports both fiat and stablecoin settlements, enabling payment and remittance firms to move funds across markets without the necessity of maintaining local accounts or pre-funding balances. The company has integrated liquidity into its network, which facilitates "instant settlement without trapped capital," according to its statement.
Currently, Zynk's rails support USD, EUR, AED, INR, MXN, and PHP corridors. Its clientele includes remittance providers, business-to-business payment platforms, and trading networks. The company asserts that its system can significantly reduce settlement costs and lessen the dependence on correspondent banking routes, which frequently cause delays for smaller financial institutions. "Our mission is to make liquidity as mobile as data, freeing capital and eliminating idle balances, pre-funding, and manual treasury operations," Swaminathan explained. The firm characterizes its approach as a "stablecoin-enabled alternative" to established settlement networks such as SWIFT.
Quiet Launch and Early Growth
Zynk commenced operations quietly in April and has reported a 70% month-over-month growth since its inception, although specific transaction or revenue figures have not been disclosed. The company's team of 15 individuals comprises experienced professionals from Amazon Pay India, Morgan Stanley, and various fintech startups.
Co-founder and chief technology officer Manish Bhatia, who was previously a founding member and CTO of Amazon Pay India, highlighted that Zynk’s technology enables real-time global settlements without requiring pre-funding. "When I was leading Amazon Pay’s technology stack, I saw firsthand how businesses have always needed real-time settlement," Bhatia commented. "Zynk is finally making that possible."
The company's product design reflects a broader trend among fintech companies that are integrating stablecoins into conventional payment workflows. Its system functions as middleware connecting Web2 and Web3 payment networks, granting established firms access to crypto liquidity while adhering to the compliance standards mandated by banks and regulators.
Investor Takeaway
Venture Capital Interest in Payments Infrastructure
This funding round contributes to the ongoing stream of venture capital flowing into digital payment infrastructure. Investors have demonstrated a renewed interest in companies that merge regulated finance with blockchain settlement capabilities. Hivemind Capital, known for backing numerous crypto and DeFi projects, stated that this investment signifies increasing confidence in payment models that utilize stablecoins for cross-border transactions, rather than for speculative trading.
Zynk's expansion initiatives come at a time when stablecoin usage is experiencing global growth, driven by remittance demand and inter-fintech settlements. Analysts view this sector as a natural conduit between traditional banking and blockchain-based finance, particularly in regions with limited correspondent banking access. For Zynk, the forthcoming challenges will involve scaling its liquidity and regulatory coverage while maintaining low transaction costs—a complex undertaking that has tested even the largest payment firms venturing into the cross-border market.