Miami-based Jeeves, which launched stablecoin-based payments earlier this year, raised a $110M Series C led by CoinFund, with participation from a16z and others

If you use crypto for business payments, your available tools for payroll and invoicing just expanded.

Miami-based fintech Jeeves Inc. announced it has secured $110 million in a Series C funding round. The round was led by CoinFund and included participation from Andreessen Horowitz (a16z) and other investors. Earlier this year, Jeeves launched stablecoin-based payment solutions. The company plans to use the new capital to expand its product offerings, which include a stablecoin wallet.

The substantial Series C funding for Jeeves, a fintech focusing on stablecoin payments, signals continued investor confidence in the digital currency payment infrastructure space. This capital infusion suggests a growing belief in the utility and adoption of stablecoins for real-world financial transactions beyond speculation. Jeeves' expansion of offerings, including a stablecoin wallet, indicates a strategic move to deepen its integration into the broader digital asset ecosystem.

This funding round positions Jeeves to compete more aggressively in the fintech and crypto payment sectors, potentially challenging traditional payment processors and established crypto payment platforms. The increased investment in stablecoin technology by major venture capital firms like CoinFund and a16z could accelerate the development and mainstream acceptance of these digital currencies for everyday business operations. Investors will be watching Jeeves' ability to scale its services and onboard users onto its stablecoin payment solutions.