Jeeves has raised $110 million in equity funding and launched a proprietary stablecoin wallet with payouts to 190 countries, expanding its platform for corporate cards, treasury payments, spend management and cross-border financial operations.

Jeeves is expanding its stablecoin infrastructure for multinational businesses after raising $110 million in new equity funding and launching a proprietary wallet designed to support payouts across 190 countries.

The funding round was led by CoinFund, with participation from AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute, Y Combinator and other investors. The company did not disclose a valuation.

Jeeves operates a financial platform for global enterprises spanning corporate cards, accounts payable, treasury payments, spend management and automated financial workflows. The company says more than 80% of its customers use multiple products, positioning the platform as an integrated alternative to combining banks and specialized financial software across different markets.

The funding comes as stablecoins become a larger component of Jeeves’ transaction activity. The company says its total annualized platform volume across card and payments products has surpassed $5 billion.

Stablecoin activity represents an increasingly significant portion of that volume. According to Jeeves, stablecoin-settled activity was effectively zero eight months ago and has since reached approximately $1.5 billion in annualized platform volume.

The growth is being driven by enterprises moving funds between markets where correspondent banking can be slow or expensive. That use case puts stablecoins closer to the operational infrastructure of corporate treasury teams rather than limiting them to cryptocurrency trading or investment.

For multinational companies, cross-border payments can involve multiple banks, currency conversions, intermediaries and settlement timelines. Stablecoins can provide an alternative settlement rail, particularly when businesses need to transfer value between markets outside traditional banking hours.

Jeeves is also expanding its stablecoin card offering from 25 to 35 countries. The newly added markets include Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay and Uruguay. The company says the expansion gives its stablecoin card and spend-management platform coverage across nearly every market in Central and South America, alongside existing coverage in North America, the United Kingdom and Europe.

The geographic expansion is accompanied by a new Madrid office, which Jeeves says will support the global expansion of its stablecoin-native cards and payments business.

The company is simultaneously broadening its product stack. Its new proprietary stablecoin wallet supports payouts to 190 countries, while new products include an AI-powered spend-tracking solution and an accounts receivable module.

Together, the products are intended to bring money movement, corporate spending and incoming payments into one platform. That approach reflects the growing convergence between embedded finance platforms, treasury technology and stablecoin infrastructure.

The strategic shift is significant because corporate finance teams typically operate across multiple systems. A company may use a bank for treasury accounts, a card provider for employee spending, separate software for accounts payable and another service for international payments. Integrating those functions can reduce the need to reconcile data and transactions across disconnected systems.

Jeeves is positioning stablecoins as the underlying infrastructure connecting those functions.

That strategy places the company within a rapidly developing segment of financial technology. Stablecoins are increasingly being explored for cross-border payments, treasury management, merchant settlement and other institutional use cases. Their potential advantage for businesses is less about speculative digital assets and more about the ability to move digital representations of value across borders using blockchain networks.

However, stablecoin-based financial infrastructure also introduces considerations around regulation, custody, liquidity, compliance and integration with local payment systems. Enterprise adoption therefore depends on more than transaction speed. Companies need reliable controls, reporting, risk management and access to local financial rails.

Jeeves’ broader product strategy attempts to address that requirement by combining stablecoin settlement with conventional business-finance functions.

The company counts businesses including BMW, H&M, Lululemon, Burger King, Kavak and XP among its customers. It says it serves thousands of businesses across technology, mobility, financial services, retail and e-commerce.

Founder and CEO Dileep Thazhmon said the company’s customers operate globally and need corporate cards, accounts payable, treasury payments and financial automation across multiple markets. He argued that stablecoin infrastructure can give businesses more consistent speed and cost characteristics when transferring money internationally.

CoinFund Managing Partner David Pakman similarly described Jeeves as an enterprise-focused stablecoin infrastructure provider, citing its combination of corporate financial products and existing customer adoption.

For the Digital Payments Platforms market, Jeeves’ expansion illustrates how stablecoins are moving beyond standalone payment products into broader financial operating systems. For Open Banking Infrastructure and Banking Technology Innovation, it also highlights a parallel development: businesses increasingly want financial services that can be embedded directly into operational workflows.

The company’s next challenge will be scaling that model across jurisdictions with different financial regulations and payment infrastructures. Reaching 190 countries for payouts does not mean every market offers identical settlement capabilities, regulatory treatment or customer experience.

Still, the combination of new capital, stablecoin transaction growth, geographic expansion and additional treasury products signals an effort to turn stablecoin settlement from a single payment capability into the foundation of a broader enterprise finance platform.

Market Landscape

Jeeves’ expansion reflects the growing convergence of stablecoin infrastructure, corporate treasury technology and embedded finance. Rather than positioning stablecoins solely as a payment method, the company is using them as a settlement layer for cards, payouts, accounts payable, accounts receivable and spend management.

The model is particularly relevant to businesses operating across emerging and developed markets, where cross-border payment costs, settlement times and banking connectivity can vary substantially.

The broader stablecoin market is also moving toward institutional use cases. Financial institutions and fintech companies are exploring stablecoins for international transfers, treasury operations and settlement, while regulators in multiple jurisdictions continue developing frameworks governing issuance, custody and payments.

For Jeeves, the competitive question is whether enterprises will consolidate more financial operations onto stablecoin-native platforms rather than maintain separate banking, card, payment and expense-management providers.

Top Insights

• Jeeves raised $110 million in equity funding led by CoinFund as stablecoin-settled platform volume reaches $1.5 billion annualized.
• The company launched a proprietary stablecoin wallet supporting payouts to 190 countries alongside new AI spend tracking and accounts receivable capabilities.
• Jeeves is expanding stablecoin card availability from 25 to 35 countries, strengthening coverage across Latin America.
• More than 80% of Jeeves customers use multiple products spanning cards, payments, treasury and spend management.
• The company is positioning stablecoins as infrastructure for broader enterprise financial operations rather than a standalone payment rail.

Get in touch with our fintech expert