Levl raises $7m to scale cross-border payments platform

By Vriti Gothi

Levl, a spinout of Galaxy Digital, has raised $7 million in seed funding to expand its unified platform for fiat and stablecoin-based cross-border payments.

The round was led by Galaxy Ventures and included participation from Protagonist, Deus X, Blockchain Builders Fund, OpenFX, FalconX, CMCC, Variant Fund, and a group of strategic angel investors comprising senior executives from Revolut, Brex, Comun, and other financial technology firms.

Levl is positioning itself at the intersection of traditional banking infrastructure and blockchain-based settlement. The global cross-border payments market is projected to reach $320 trillion in transaction volumes by 2032, driven by growing digital commerce and international trade. However, the sector remains constrained by fragmented correspondent banking networks, multiple intermediaries, delayed settlement cycles, and foreign exchange costs.

Stablecoins such as USD Coin (USDC) and Tether (USDT) have emerged as potential alternatives for faster, lower-cost transfers, but integration into enterprise payment workflows has been limited by operational and regulatory complexity.

Levl’s platform is designed to address that gap. The company enables businesses to collect, store, convert, and transfer funds across borders using both fiat currencies and stablecoins. It says the infrastructure abstracts blockchain complexity, allowing firms to access digital rails without directly managing on-chain operations.

Spun out of Galaxy Digital in 2023, Levl was founded by Jaisel Sandhu, a former foreign exchange trader at AQR. The broader team brings experience from firms including PayPal, Deutsche Bank, London Stock Exchange Group, RBC, BlackRock, AQR, Brevan Howard, and Galaxy Digital.

According to the company, transaction volumes have surpassed an annualised $1 billion within four months of launch. The platform currently supports payouts in more than 75 countries and serves over one million end-users through clients and partners, including mobile wallets, neobanks, merchants, remittance providers, brokers, and foreign exchange platforms.

The funding will be used to scale operations and deepen integrations as competition intensifies among FinTechs seeking to embed stablecoins into mainstream financial workflows.