HIFI Raises $37 Million Series A Led by Left Lane Capital

HIFI, a New York-based company that provides API infrastructure for stablecoin payments and tokenized asset settlement, said on September 24 that it raised $37 million in Series A funding led by Left Lane Capital. The company announced the round in a statement shared with The Block, saying the money will go toward its tokenized capital-markets infrastructure and a wider product suite.

What HIFI does

HIFI sells API infrastructure that ties money movement, compliance and settlement into a single integration across bank rails and digital assets. According to the company, the platform processes more than $7 billion in annualized volume across 87 countries. Businesses building on HIFI have onboarded more than 10,000 companies and 200,000 individuals, and usage among existing customers grew more than fourfold over the past six months.

DTCC trades and the Visa partnership

The Series A follows HIFI's participation in the DTCC's July production trades using DTC-tokenized securities alongside BlackRock, Goldman Sachs and Nasdaq. That month, HIFI's platform also took part in DTCC's tokenized repo pilot, and it supported a live tokenized repo trade on Tradeweb between DRW and Marex that settled on the Canton Network with USDCx as the cash leg. In early September the company partnered with Visa to extend its stablecoin settlement platform to money transfers and card payments, initially supporting stablecoin-funded payouts to more than 4 billion Visa cards worldwide.

Why it matters

The stablecoin market has grown considerably. According to The Block's data dashboard, the total supply of dollar-pegged tokens now exceeds $295 billion, with Tether's USDT accounting for about $183.4 billion and Circle's USDC close to $76 billion. Visa said this month that its stablecoin settlement had passed a $20 billion annualized run rate, more than 15 times the level a year earlier. A Visa survey released on September 23 found that 56% of U.S. adults would use stablecoins if they carried bank-level fraud protection and deposit insurance, compared with 36% without those protections. HIFI said it plans to use the round to obtain additional regulatory licenses, grow its team in New York and a small number of international markets, and extend its product from payments into cards and capital markets.