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 into core to B2B slightly 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 saying the partnership, Slash CEO Victor Cardenas stated the staff 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 presently serves “greater than 5,000” enterprise clients, starting from startups to massive on-line sellers, and gives options reminiscent of 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 via its platform, simply 9 months after the corporate began supporting stablecoins. $USDC and $USDTWe’ve got set an bold objective of reaching $1 trillion in cumulative stablecoin funds by 2030. The corporate’s “stablecoin funds” product permits purchasers to ship and obtain cash. $USDC and $USDT It may be accessed instantly from Slash enterprise accounts with “no want for cryptocurrency wallets, trade accounts, or holding funds in stablecoins,” successfully abstracting blockchain in favor of a well-known monetary interface.
Slash’s newest spherical highlights a broader development of worth created by stablecoins transferring away from consumer-facing DeFi and into treasury, funds, and cross-border funds rails. As a current crypto.information article on stablecoin infrastructure identified, fintechs are more and more counting on stablecoins to settle transactions extra rapidly, 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 amass 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 clients to “deposit and pay throughout main corridors with out holding cryptocurrencies on their stability sheets.” Extra not too long ago, Layer 2 mission Morph partnered with custodian Cobo to “energy institutional stablecoin flows” via its Fee Accelerator program, additionally focusing on treasury desks and payroll groups slightly 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 via company again places of work 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.
