Zynk, a stablecoin-enabled cross-border payments infrastructure firm that says it supports instant settlements without pre-funding, has raised $5 million in a seed round led by Hivemind Capital.

Coinbase Ventures, Alliance DAO, Transpose Platform VC, Polymorphic, Tykhe Ventures, and Contribution Capital also participated in the round, which was structured as a Simple Agreement for Future Equity (SAFE) and completed in August, Zynk co-founder and CEO Prashanth Swaminathan told The Block, declining to disclose a post-money valuation.

The firm said the fresh capital will be primarily used to expand its corridor coverage, enhance its liquidity, technology, and compliance infrastructure, and build partnerships with leading payment providers globally.