Transak has completed a $16 million strategic fundraising round, with Tether and IDG Capital co-leading the investment.

BlockBeats News, August 12th, Web3 payment infrastructure company Transak raised $16 million in a strategic financing round, led by IDG Capital and Tether, with participation from Primal Capital, 1kx, Protein Capital, and Fuel Ventures.

Transak plans to use this funding to expand its stablecoin payment stack and enter new markets.