Stablecoin-Native Business Bank Jeeves Raises $110 Million Series C-1 Led by CoinFund
Jeeves will use the equity round to expand its USDC and USDT wallet infrastructure, add accounts-receivable tools, and grow stablecoin corporate card coverage across the roughly 190 countries it operates in.
— Jeeves, a stablecoin-native banking platform aimed at global enterprises, announced on Sept. 29 that it has raised $110 million in Series C-1 equity funding led by CoinFund, with participation from existing backers Coinbase Ventures and Andreessen Horowitz. The company has built its business around letting companies hold and move balances in USDC and USDT rather than routing everything through correspondent banking relationships, and says it offers instant payouts to roughly 190 countries.
According to Jeeves, the new capital will go toward expanding that wallet infrastructure, broadening the countries and currencies where its stablecoin-backed corporate cards are available, and building out two newer product lines: an AI-driven spend-tracking tool for finance teams and an accounts-receivable module aimed at helping businesses collect and reconcile payments faster. None of those newer products have independently verified usage or adoption figures publicly available as of this writing.
The raise lands amid a broader wave of stablecoin-infrastructure investment this year, as regulatory clarity from the GENIUS Act framework has pushed more banks and fintechs toward stablecoin settlement and issuance. Jeeves has not disclosed a post-money valuation for this round, and this publication has not independently verified the company's total funding to date beyond what is stated in its own announcement.