After a US$110 million funding round, Federico Javin explains why companies are moving their cross-border payments to stablecoins — and what’s next for Argentina, where Jeeves plans to open an office
Jeeves, the stablecoin-native platform for global businesses, announced a US$110 million capital raise and the launch of its own stablecoin wallet, enabling instant payments to 190 countries. The round was led by CoinFund, with participation from AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute, Y Combinator, and other investors.
The announcement comes after the company tripled its volume year over year and surpassed US$5 billion in annualized total payment volume. Stablecoins are now its fastest-growing business segment: eight months ago, activity settled through this technology was virtually zero, while today it represents US$1.5 billion in annualized volume, driven by companies moving money between markets where correspondent banking is slow or expensive. In Argentina, Jeeves plans to invest additional resources to support its growth, focusing on expanding its local team and opening an office.
Frecuencia Money spoke with Federico Javin, Global Head of Stablecoins about five key factors behind this growth.
1. Mature infrastructure
According to Javin, what changed over the last eight months was the maturity of the infrastructure required to move stablecoins at enterprise scale, combined with growing demand for faster and lower-cost international payments. Jeeves processed more than US$1 billion in stablecoin transactions during the first nine months of 2026, and its stablecoin volume grew 17-fold between September 2025 and September 2026. Today, annualized stablecoin settlement volume stands at US$1.5 billion within a platform handling more than US$5 billion in annualized volume overall.
Federico Javin, Global Head of Stablecoins
2. Corridors where correspondent banking falls short
The strongest corridors are the United States with Argentina, Mexico, and Brazil, as well as those three countries with China. According to Javin, a payment that takes two to five business days through traditional banking rails can settle in minutes. Costs are also significantly lower: Jeeves charges only a spread of a few basis points, whereas the traditional model often includes bank fees, intermediary banks, and FX spreads that can total between 5% and 7% of the transaction amount. In addition, businesses no longer need to keep capital tied up in prefunded accounts when using stablecoins.
3. The last mile: stablecoins stay behind the scenes
The company sends funds using stablecoins, Jeeves converts them into local currency, and the supplier receives the money in its existing bank account. “It’s a technology we use behind the scenes,” Javin explained. The supplier does not need to interact with crypto at all. To support this process, the company works with multiple payout and compliance partners in each market, providing redundancy and enabling operations across 190 countries.
4. Argentina: corporate cards and international payments
These are currently the company’s most widely adopted products in Argentina. A common use case is paying invoices to overseas suppliers. Since launching its corporate card in mid-May 2026, Jeeves has added new companies month after month. Javin sees a ‘de facto digital dollarization’ trend that still needs deeper integration with treasury management, expense management, and international payments solutions. By 2027, the company aims to exceed 100 enterprise clients, scale annualized digital-dollar transaction volume beyond US$500 million, and expand its local team with a Buenos Aires office.
5. Clear regulation and an integrated platform
Javin argues that clear regulatory frameworks create predictability. In Argentina, he advocates for a framework that recognizes stablecoins as payment and treasury infrastructure for businesses, while providing certainty for collaboration with regulated local partners. He says the company’s differentiator is the integration of corporate cards, accounts payable, treasury payments, and spend management into a single platform. Today, more than 80% of clients already use multiple products simultaneously.