Stripe-backed payments firm raises $100 million to compete against stablecoins

Rapyd raised $100 million in a Series C round for its global fintech-as-a-service platform. While Rapyd does not directly touch cryptoassets it competes with stablecoins for global payments. A company spokesperson said:

"This is a major challenge for global expansion, as local consumers around the world are unable to transact with foreign retailers, and businesses can’t pay employees in key local markets. It may be hard to grasp from a US perspective but consider that Brazil has certain payment methods that work only within the country, and not beyond its borders. In India, consumers still use cash as the primary method of payment due to a lack of trust that goods or services will be delivered.”