Crossmint Raises $23.6M
For many companies, integrating blockchain technology has felt like an overly complicated process, according to Riley Kaminer. The process is often expensive and best left to specialized engineers. Crossmint, however, is seeking to change this. The company recently closed a $23.6 million funding round, led by Ribbit Capital with support from Franklin Templeton, Nyca, First Round, and Lightspeed Faction.
Crossmint’s goal is to make blockchain adoption as straightforward as writing a few lines of code. The company has seen remarkable expansion, with subscription revenue soaring 1,100% in 2024. Its approach for businesses is simple: eliminate complexity. Companies can incorporate blockchain-powered wallets, payments, and tokenization tools without the need to hire specialized blockchain engineers or manage crypto assets.
From the end user’s perspective, Crossmint mirrors the existing web experience—no gas fees and no clunky interfaces. Transactions can be completed easily using FaceID or email logins.
“We’re seeing adoption across every sector,” said Rodri Fernandez, co-founder of Crossmint.
Fernandez mentioned that publicly traded fintech companies are using Crossmint to integrate stablecoins and introduce new financial products across the globe. He added that Fortune 500 companies use blockchain-based product passports to combat counterfeiting and improve supply chain transparency. A major global bank is working on an interoperable rewards program, while numerous new startups are launching applications in a matter of days.
More than 40,000 businesses and developers are already using the platform, including global giants like Adidas and Red Bull. The appeal of the platform stems from its ability to abstract away the technical difficulties of blockchain while still delivering the benefits of security, transparency, and interoperability.
The company is also investing heavily in AI-driven commerce. With AI agents predicted to manage a growing portion of the $6.8 trillion global e-commerce market, Crossmint is setting the foundation for autonomous transactions. Its technology allows AI agents to independently hold funds, trade assets, and make purchases, which could redefine online shopping and digital finance.
“Soon, most economic transactions will be executed by AI agents,” Fernandez wrote in a blog post announcing the funding. “These new economic actors will buy your groceries, book your flights, and manage the inventories and balance sheets of entire companies.”
However, existing financial systems aren’t well-suited for AI-driven transactions. Traditional payment systems were designed for human use, requiring CAPTCHAs, two-factor authentication, and manual approvals that AI agents cannot easily navigate. Crossmint addresses this challenge with its wallet, payment, and credential APIs, designed specifically for AI-driven commerce.
Zack Rosen of Ribbit Capital noted that “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.”
Fernandez envisions this as the onset of a significant shift. “In the coming years, every business will move onchain,” he wrote. “Transaction fees have plummeted, networks can handle massive throughput, and user experiences are improving thanks to platforms like Crossmint.”
With regulations clarifying in the U.S. and Europe, businesses of all sizes are encouraged to make the shift.
