New York-based startup Mural, founded by former Palantir engineers Sinclair Toffa and Chris Fernandes in 2022, announced a $15 million Series A funding round on Tuesday. The company aims to simplify international payments by providing businesses with a single platform to manage traditional currencies and stablecoins. The funds will support further development of Mural’s platform, which targets payroll providers, software companies, and fintechs, according to fortune.com.
Mural’s platform allows customers to hold traditional dollars, local currencies, and stablecoins in one compliant account, eliminating the need to juggle multiple banks and payment providers. CEO Sinclair Toffa described the system as a compliant record that enables businesses and fintechs to launch new financial products on top of it. The startup’s approach addresses the complexity of cross-border money transfers amid regulatory challenges and fragmented payment systems.
The stablecoin market has grown significantly, with payments reaching approximately $400 billion in the first eight months of 2026, up from the previous year, according to Alvarez & Marsal data cited by fortune.com. Stablecoins, cryptocurrencies designed to track the U.S. dollar, offer faster and cheaper international transfers, often completing transactions in seconds with minimal fees. Mural’s solution taps into this expanding market by integrating stablecoins into traditional financial workflows.
Mural plans to use the $15 million funding to enhance its platform’s capabilities and expand its customer base. The company’s focus on compliance and product innovation positions it to capitalize on the growing demand for streamlined cross-border payment solutions in the fintech sector.