Stablecoin-enabled payments infrastructure platform Zynk raises $5 million from Coinbase Ventures and others

Zynk, a stablecoin-enabled cross-border payments infrastructure firm that says it supports instant settlements without pre-funding, has raised $5 million in a seed round led by Hivemind Capital.

Coinbase Ventures, Alliance DAO, Transpose Platform VC, Polymorphic, Tykhe Ventures, and Contribution Capital also participated in the round, which was structured as a Simple Agreement for Future Equity (SAFE) and completed in August, Zynk co-founder and CEO Prashanth Swaminathan told The Block, declining to disclose a post-money valuation.

The firm said the fresh capital will be primarily used to expand its corridor coverage, enhance its liquidity, technology, and compliance infrastructure, and build partnerships with leading payment providers globally.

Zynk supports both fiat and stablecoin settlements, offering seamless integration for Web2 and Web3 payment companies, according to the firm, allowing partners to enter new markets “overnight.” By embedding liquidity directly into its network, Zynk eliminates the need for payment firms to pre-fund local bank accounts in different markets or manage complex liquidity operations, freeing up trapped capital and reducing settlement costs.

“We’ve been building the financial pipes that make global payments instant,” Swaminathan said. “Access to pre-funding has become a moat in cross-border payments — and we’re breaking that moat. Our mission is to make liquidity as mobile as data, freeing capital and eliminating idle balances, pre-funding, and manual treasury operations.”

Zynk said its optimized payment rails currently enable instant, cross-border settlement across United States Dollar (USD), Euro (EUR), United Arab Emirates Dirham (AED), Indian Rupee (INR), Mexican Peso (MXN), and Philippine Peso (PHP) corridors, allowing remittance providers, business-to-business payment platforms, trading networks, and payment service providers to scale globally without liquidity bottlenecks.

Zynk’s stealth launch

Since launching quietly in April, Zynk said it has seen 70% month-over-month growth, without confirming absolute numbers.

Zynk’s 15-member team includes executives with backgrounds in fintech and capital markets, among them the former CTO of Amazon Pay India, a former Morgan Stanley capital markets professional, and a serial entrepreneur from Harvard.

“Liquidity should move as freely as information,” said Zynk co-founder and CTO Manish Bhatia, a former founding member and CTO of Amazon Pay India. “When I was leading Amazon Pay’s technology stack, I saw firsthand how businesses have always needed real-time settlement. Zynk is finally making that possible — without the pre-funding burden.”