Stablecoin Firm Checker Raises $8 Million Funding Round

Stablecoin enabling firm Checker has raised $8 million in funding, according to a statement distributed by the firm.

The funding was led by Galaxy Ventures, Al Mada Ventures, and Framework Ventures. Other investors include strategic backers such as Bitso, Mesh, and others.

Checker reports that it has quickly scaled from zero to $3 billion in total processing volume (TPV).

Checker is a service that helps institutions to access stablecoin liquidity for payments, treasury, and more via a single API. The company says it has generated significant early traction, as over 30 regulated financial institutions currently work with the firm.

The value proposition is ease of integration and use. Instead of fumbling with many different providers, Checker allows firms to accomplish integration with a simple API, thus reducing complexity, compliance demands, and liquidity fragmentation.

Jack Chong, co-founder of Checker, says they have spent their careers dealing with establishment financial services and legacy plumbing, and they know how broken the current system remains.

“This funding allows us to accelerate our mission to enable financial institutions from Brazil and Kenya, to Hong Kong and the United States, to transform how foreign exchange, payments, trading, and investment products are built. We are incredibly grateful for our customers’ and investors’ trust,” says Chong.

Checker says it plans to deepen its global payments coverage to replace reliance on traditional banking. Embedded borrowing/lending is also on the way.

Regarding artificial intelligence, Checker is developing AI agents for treasury and back-office operations.

“The friction points in fiat on-ramps and off-ramps remain the hardest problem to solve,” says Omar Laalej, General Partner at Al Mada Checker. He claims Checker has addressed this issue by creating a programmable and compliant network.