The news
Jeeves, a Miami-based corporate card and payments company, said on September 29, 2026, that it raised $110 million in equity to scale its stablecoin banking platform for global companies, and launched its own stablecoin wallet with payouts to 190 countries.
CoinFund led the round, with participation from AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute, Y Combinator and others, according to the company. Jeeves did not disclose a valuation. Crypto Briefing reported that the company raised $180 million in 2022 at a $2.1 billion valuation in a round led by Tencent.
Stablecoins are digital tokens designed to hold a steady value, usually pegged to the U.S. dollar, that move over blockchain networks instead of through chains of correspondent banks. Jeeves says its stablecoin volume went from zero to $1.5 billion on an annualized basis in eight months. Across all products, the company says volume tripled year over year to more than $5 billion annualized, and revenue grew four times over in 14 months.
Jeeves said it is expanding its stablecoin card from 25 to 35 countries, adding markets including Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay and Uruguay. Alongside the wallet, it announced an AI tool for tracking spending globally, an accounts receivable module and a new office in Madrid to expand its stablecoin cards and payments offering.
The company says it serves thousands of businesses, naming BMW, H&M, Lululemon, Burger King, Kavak and XP, and that more than 80% of customers use multiple products. Crypto Briefing put the count at more than 5,000 enterprises and reported that more than half of Jeeves' international volume already settles on-chain, meaning on a blockchain. Its Instant Pay product uses stablecoin infrastructure to settle international transfers in minutes, according to the outlet.
Founder and CEO Dileep Thazhmon said in the release that the company built Jeeves on stablecoin rails because that is the only way to give companies moving money between countries, such as between São Paulo and Berlin, the same speed they get within one country. Crypto Briefing reported that Latin America, including Mexico, Brazil and Colombia, remains a major part of the business, and that the next phase will include AI agents to automate parts of customers' finance operations.
The numbers
- Equity raised
- $110 million
- Stablecoin volume (annualized, company figure)
- $1.5 billion, up from zero in eight months
- Total volume (annualized, company figure)
- More than $5 billion, tripled year over year
- Revenue growth (company figure)
- 4x in 14 months
- Stablecoin card countries
- 35, up from 25
- Wallet payout countries
- 190
Why CEOs should care
For CFOs and treasurers with suppliers, contractors or subsidiaries abroad, the pitch is speed: settlement in minutes rather than the longer timelines of traditional cross-border banking. Before moving volume, ask which stablecoins the service uses and who issues them, where the reserves backing them sit, how funds convert back into local currency at the far end, what fees apply at each step, and who absorbs the loss if a token or a counterparty fails.
Controllers and compliance teams should ask how stablecoin transactions appear in the general ledger, whether the provider delivers audit-ready records, and how sanctions screening and know-your-customer checks run on each payout. Boards should confirm that treasury policy allows holding digital dollars at all, even for minutes.
Timing matters. The GENIUS Act, the U.S. stablecoin law enacted in July 2025, takes effect on the earlier of January 18, 2027, or 120 days after regulators issue final implementing rules, PYMNTS reported. The Office of the Comptroller of the Currency (OCC) has said it aims to finish its rule by November, and a Treasury proposal on restrictions is open for comment until October 19. Anyone signing a multi-year payments contract now should ask how the vendor plans to comply once those rules are final.
The bigger picture
Jeeves' raise shows where crypto rails are getting practical: moving money across borders for companies rather than trading. A corporate card business rebuilding its plumbing on stablecoins, backed by Coinbase Ventures, Andreessen Horowitz and traditional investors such as AllianceBernstein and GIC, suggests investors see corporate treasury and payables as a large market for digital dollars, particularly in regions such as Latin America where fragmented banking and currency conversion complicate cross-border payments, as Crypto Briefing noted.
What’s next
Watch whether Jeeves sustains its stablecoin growth as it enters 10 new card markets, whether it names the stablecoins and banking partners behind the wallet, and how it adapts once the OCC and Treasury finalize GENIUS Act rules. The Madrid office will show how far the model travels beyond the Americas.
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