Jeeves raises $110 million to scale stablecoin-native banking platform

Miami-based Jeeves has announced a $110 million equity funding round to scale its stablecoin-native banking platform for global enterprises. The round was led by CoinFund, with participation from several major investors including AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute, and Y Combinator.

Jeeves provides corporate cards, accounts payable, treasury payments, and spending tools. The company reported that its annualized total platform volume across cards and payments has exceeded $5 billion, with approximately $1.5 billion of that volume settled via stablecoins. This stablecoin-settled activity grew from near zero to $1.5 billion in annualized volume in roughly eight months.

With the new capital, Jeeves is launching a proprietary stablecoin wallet capable of payouts to 190 countries and expanding its stablecoin card offering from 25 to 35 countries, including new markets in Latin America. The company also plans to open a new office in Madrid and is introducing an AI spending tracker and an accounts receivable module.