Stablecoin infrastructure startup Checker raises $8 million from Galaxy Ventures and others

Stablecoin infrastructure startup Checker has raised $8 million in funding from a range of investors as it aims to help increase stablecoin adoption with institutional tools.

The funding was raised across pre-seed and seed rounds after Checker was pre-empted in late 2025, co-founder and CEO Jack Chong told The Block. Galaxy Ventures, Al Mada Ventures, and Framework Ventures are "all large investors," Chong said, with participation from multiple other investors, including Bitso and Airtm in Latin America, DFS Lab in Africa, and Onigiri Capital, SNZ Capital, and Velocity in Asia.

Angel investors, including Bam Azizi, co-founder and CEO of Mesh, Shivani Siroya, co-founder and CEO of Tala, and Reid Cuming, co-founder of Superstate, also participated, Chong said. He declined to disclose the structure of the rounds, Checker's valuation, and whether any investors took board, advisory, or observer seats.

The funding comes as stablecoin startups have been getting more investor attention amid rising adoption. Large institutions have also been acquiring stablecoin infrastructure startups, including Stripe's $1.1 billion acquisition of Bridge, while Mastercard agreed to acquire BVNK for up to $1.8 billion earlier this year.

Analysts expect stablecoin adoption to grow sharply. Standard Chartered, for instance, has forecast that the stablecoin market could reach $2 trillion by the end of 2028. Meanwhile, JPMorgan analysts have been more cautious. They have projected that the stablecoin market could reach about $500 billion to $600 billion by 2028. More recently, the JPMorgan analysts said rising stablecoin velocity could limit how much the total market cap grows because the same stablecoins can support a larger amount of transaction volume when they are used more often.

Checker said that for large-scale stablecoin adoption, issues such as liquidity fragmentation, operational complexity, and compliance hurdles need to be resolved.

"Financial institutions such as business-to-business cross-border payments companies would like to scale to as many countries as possible, unlocking new currencies, corridors, and use cases for their customers. However, that involves stitching together many different solutions providers, from liquidity, accounts, local licenses coverage," Chong said.

Checker says it provides a single API, or software interface, to help financial institutions launch and scale stablecoin and related products. Chong said the company plans to use the new funding to expand its network for clients from Brazil and Kenya to Hong Kong and the United States, supporting use cases including foreign exchange, payments, trading, and investment products.

Checker says it currently serves more than 30 "regulated" financial institutions globally and has processed over $3 billion in total volume over the past 12 months, accounting for around 1% of annual global business-to-business stablecoin payments volume. Its clients include Rail, which was acquired by Ripple, Braza Bank in Brazil, and Belo in Argentina.

With the new funding, Checker plans to help institutions reduce reliance on traditional correspondent banking. The startup also plans to build embedded borrowing and lending tools, which Chong said means partnering with lenders to offer settlement financing. Checker also plans to launch AI-enabled agents for onboarding, compliance assessments, and treasury operations for its customers, Chong said.

As for Checker’s business model, Chong said the company makes money from software subscriptions and volume-based fees.

Checker has grown from four people to more than 15 people in less than six months and expects to expand its engineering team to meet customer demand, Chong said.

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