Jeeves raises $110 million and launches its own stablecoin wallet for instant payments in 190 countries

Jeeves, the stablecoin-native cards and payments platform for global companies, has closed a $110 million equity round and introduced its own stablecoin wallet with instant payments to 190 countries. For high-risk PSPs, the important part is not the funding headline; it is that Jeeves is now bundling cards, payables, treasury payments, spend management, and stablecoin settlement into one stack.

1. The round was led by CoinFund, with participation from AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute, Y Combinator and others.
2. The announcement comes after Jeeves tripled its year-over-year volume and passed $5,000 million in total annualized volume on the platform. Stablecoins are now the fastest-growing part of that volume: eight months ago, stablecoin activity on Jeeves was practically zero; today it is running at $1,500 million annualized.
3. Jeeves says that growth is being driven by companies moving money between markets where correspondent banking is slow or expensive. One large travel company using Jeeves to pay hotels in Europe reportedly cut settlement from one or two days to one or two hours, while reducing cost from 1% of the market average exchange rate to close to 20 basis points.
4. The company is expanding its stablecoin card offering from 25 to 35 countries, adding 10 new markets including Argentina, Costa Rica, Dominican Republic, Guatemala, Panama, Peru, Paraguay and Uruguay. With that expansion, Jeeves says it now covers practically all of Central and South America, and combined with coverage in North America, the United Kingdom and Europe, its stablecoin card and spend management platform reaches 35 countries in total.
5. Alongside the capital raise, Jeeves is launching its own stablecoin wallet with instant payments to 190 countries, a global AI spend-tracking solution and an accounts receivable module. The pitch is straightforward: one system to move money, track spend and collect payments without stitching together banks, spreadsheets and point solutions in every market where the customer operates.

Jeeves says its customers include BMW, H&M, Lululemon, Burger King, Kavak and XP, and that more than 80% use multiple products at once, across corporate cards, accounts payable, treasury payments, expense management and AI agent workflows. That matters because once a PSP starts seeing that kind of product density, the relationship stops looking like a single card program and starts looking like the operating system for cross-border money movement.