Key Takeaways:
- New funds boost Crossmint’s expansion into seamless blockchain-powered digital transactions.
- The platform integrates token and wallet tools without requiring blockchain experts.
- Leading brands adopt the solution to simplify secure digital finance.
- Efforts extend to AI-driven methods for routine digital transactions.
Crossmint secured $23.6 million in a funding round led by Ribbit Capital, announced on Tuesday, with participation from Franklin Templeton, Nyca, First Round, and Lightspeed Faction.
According to a press release shared with Cryptonews, Crossmint reported a 1,100% increase in subscription revenue over the past year, following rapid growth.
Crossmint’s Approach to Simplifying Blockchain Development
Crossmint said it provides businesses with a way to integrate blockchain technology without requiring blockchain engineers, cryptocurrency holdings, or multiple third-party solutions.
With a few lines of code, companies can access blockchain tools, including wallets, tokenization, onramps, and payments.
For end users, the experience is similar to traditional web applications, offering FaceID authentication, email sign-ups, and zero gas fees.
Brands Like Adidas and Red Bull Adopt Crossmint’s Platform
According to the firm, more than 40,000 companies and developers are using Crossmint, including brands such as Adidas and Red Bull.
Businesses across multiple industries, from finance to supply chain management, are using Crossmint’s platform to bring their operations onchain.
“We’re seeing adoption across every sector,” said Rodri Fernandez, co-founder of Crossmint.
“Publicly traded fintechs use Crossmint to integrate stablecoins, launch global financial products, and reduce costs. Fortune 500 companies are using it to develop product passports that prevent counterfeiting and enhance supply chain transparency,” he added.
Meanwhile, startups are using Crossmint to build onchain applications faster than traditional methods, according to Fernandez.
Ribbit Capital-Backed Expansion into AI Commerce
Beyond human users, Crossmint said it is developing infrastructure for AI agent-driven commerce. AI agents are expected to play a major role in the $6.8 trillion global e-commerce industry, making transactions and purchases on behalf of consumers.
To support this shift, Crossmint said it provides wallets, payment tech, and credential APIs that allow AI agents to securely hold funds, trade digital assets, and purchase goods and services autonomously.
The firm maintains GOAT SDK, an open-source blockchain library for AI agents, downloaded 150,000 times over the last two months.
“AI agents are reshaping commerce,” said Alfonso Gomez-Jordana, co-founder of Crossmint. “Soon, they will autonomously manage tasks like grocery shopping or personal styling. Traditional payment systems were not built for AI—but blockchain infrastructure offers a solution. Crossmint is building the infrastructure to support this next evolution.”
Plans to Expand AI and Blockchain Support
Zack Rosen of Ribbit Capital praised Crossmint’s role in shaping the future of onchain finance: “Crossmint has demonstrated its ability to unlock new revenue streams and drive cost efficiencies for major brands while building the financial infrastructure for the next generation of AI-powered applications. We are excited to support them as they continue enabling enterprises and developers to innovate onchain.”
With the new funding, Crossmint plans to expand its AI and blockchain offerings to support broader adoption of onchain commerce.
The post Crossmint Secures $23.6M Funding Round Led by Ribbit Capital to Support AI Commerce appeared first on Cryptonews.
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