Slash processes over $1 billion in stablecoin funds yearly for over 5,000 firms, turns cryptocurrencies into back-office banking rails, and raised $100 million at a $1.4 billion valuation.
Slash Monetary, a enterprise banking platform constructed for online-first companies, has secured $100 million in Collection C funding at a valuation of about $1.4 billion, as stablecoin funds quietly turn out to be core to B2B reasonably than a aspect experiment. The spherical was led by Ribbit Capital, with participation from Khosla Ventures and Goodwater Capital, with current backers New Enterprise Associates and Y Combinator additionally taking part in what Slash stated was their fourth funding within the firm.
Within the firm's weblog asserting the partnership, Slash CEO Victor Cardenas stated the crew is “constructing the world's strongest enterprise banking platform,” positioning the product as a “monetary command middle” the place companies can handle financial institution accounts, playing cards, funds, and crypto rails from one dashboard. Slash says the corporate at the moment serves “greater than 5,000” enterprise prospects, starting from startups to massive on-line sellers, and presents options akin to multicurrency accounts, digital playing cards, expense administration, and real-time native funds.
Stablecoins are on the coronary heart of that stack. Slash revealed in March that it was already transferring greater than $1 billion in annual stablecoin buying and selling quantity by way of its platform, simply 9 months after the corporate began supporting stablecoins. $USDC and $USDTWe now have set an formidable objective of reaching $1 trillion in cumulative stablecoin funds by 2030. The corporate's “stablecoin funds” product permits shoppers to ship and obtain cash. $USDC and $USDT It may be accessed immediately from Slash enterprise accounts with “no want for cryptocurrency wallets, change accounts, or holding funds in stablecoins,” successfully abstracting blockchain in favor of a well-known monetary interface.
Slash’s newest spherical highlights a broader pattern of worth created by stablecoins transferring away from consumer-facing DeFi and into treasury, funds, and cross-border funds rails. As a latest crypto.information article on stablecoin infrastructure identified, fintechs are more and more counting on stablecoins to settle transactions extra shortly, utilizing intermediaries like Transak, Circle, and banking companions to fill the hole whereas leaving finish customers with conventional money balances.
That logic is attracting main acquirers. In 2025, Ripple agreed to accumulate Toronto-based stablecoin funds firm Rail for $200 million, claiming that “stablecoin funds have gotten the spine of cross-border treasury and service provider funds,” and promising enterprise prospects to “deposit and pay throughout main corridors with out holding cryptocurrencies on their steadiness sheets.” Extra just lately, Layer 2 venture Morph partnered with custodian Cobo to “energy institutional stablecoin flows” by way of its Cost Accelerator program, additionally focusing on treasury desks and payroll groups reasonably than retail merchants.
Slash initially launched as a distinct segment vertical banking product earlier than pivoting to broader enterprise banking, however now finds itself competing with incumbents like Ramp and Brex, in addition to crypto-native fee stacks with stablecoins embedded beneath the floor. For traders like Mr. Rivitt and Mr. Khosla, the $100 million guess is that the tedium of transferring {dollars} and stablecoins by way of company again workplaces has extra sturdy economics than the speculative pursuit of yield, and the platform is quietly tucking in billions of {dollars}. $USDC and $USDT You’ll personal the cryptocurrency-powered funds infrastructure for the following 10 years.
Moreover, Stablecoin Funds Rail features a dialogue of what infrastructure firms are utilizing so as to add stablecoin funds, a report on Morph's institutional stablecoins and Cobo flows, and information of Ripple's $200 million acquisition of stablecoin funds platform Rail.
