PANews reported on November 4th that Zynk, a cross-border payment infrastructure company supporting stablecoins, has completed a $5 million seed funding round led by Hivemind Capital, with participation from Coinbase Ventures, Alliance DAO, Transpose Platform VC, Polymorphic, Tykhe Ventures, and Contribution Capital. The new funds will primarily be used to expand its transaction channel coverage, enhance its liquidity, technology, and compliance infrastructure, and establish partnerships with leading global payment service providers.

Zynk provides payment companies with instant cross-border settlement services that require no pre-deposit funds by integrating fiat currency and stablecoin settlement channels. Zynk's co-founder and CEO stated that its core technology lies in embedding liquidity directly into the network, eliminating the need for pre-deposit funds in traditional payments. Currently, the platform supports instant cross-border settlements in six major currencies, including USD, EUR, and Indian Rupee, and has achieved an average monthly growth of 70% since its quiet launch in April. The team comprises fintech experts from institutions such as Amazon Pay India and Morgan Stanley.