Levl raises $7 million to expand stablecoin and fiat payments platform
The Galaxy Digital spinout says it reached $1 billion in annualised transaction volume within four months of launch
Levl, a cross-border payments platform that combines traditional currencies with stablecoins, has closed a $7 million seed round to scale its operations.
The round was led by Galaxy Ventures and included Protagonist, Deus X, Blockchain Builders Fund, OpenFX, FalconX, CMCC and Variant Fund, alongside a strategic angel network.
The company said its platform enables businesses to collect, store, convert and move currencies across borders, supporting both fiat and stablecoins such as USDC and USDT, the two largest dollar-pegged digital tokens.
Levl said it reached an annualised transaction volume of $1 billion within four months of operation, offering same-day settlement that it said beats the interbank rate and replaces the three- to five-day delays typical of correspondent banking with near real-time processing.
The platform supports payouts in more than 75 countries and serves over one million end users through clients and partners, including TerraPay, TapTap Send and Nala.
"Global businesses see the potential of stablecoins to make payments faster and cheaper, but they need solutions that are compliant and easy to use," said Jaisel Sandhu, chief executive of Levl.
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Levl was spun out of Galaxy Digital, the digital asset financial services firm, in 2023 and was founded by Sandhu, a former foreign exchange trader at AQR, the quantitative investment manager.
The company said the new capital will fund expansion into business-to-business cross-border transfers, card and stablecoin payment processing and lending solutions, with offices in London, New York, Canada and Switzerland.The Recap
- Levl closed a $7 million seed round for payments platform.
- Annualised global transaction volume reached $1 billion in four months.
- New funding will expand cross-border, card, stablecoin and lending offerings.
