Investing in Infinia

Infinia links traditional banking grids with digital asset rails. Enterprises use a single API to collect funds, swap currencies, and pay out locally — with virtual accounts, FX execution, stablecoin settlement, and compliance built in. A lot of companies offer portions of this product suite but we believe Infinia is the only one offering an end-to-end enterprise grade product.The proof is Infinia’s client roster which includes some of the largest fintech’s in the world including Stripe and OpenFX.

Why cross-border payments in emerging markets

Moving money across borders in Latin America alone represents nearly a trillion dollars in annual payment volume, and much of it still runs on slow, expensive correspondent banking rails. While enterprise cross-border commerce increasingly leverages stablecoins for 24/7 settlement speed, digital currencies remain structurally isolated from local fiat networks like Brazil's Pix and Mexico's SPEI. Stablecoin adoption in emerging markets is being driven by real structural pain — inflation, capital controls, limited USD access, and FX inefficiency — not speculation.

We have seen this firsthand in our portfolio. Takenos serves dollar-denominated financial products to a meaningful percentage of the Bolivian population and is growing rapidly in other markets across the region. Lulubit is serving an ever growing percentage of the billions of dollars of USDT denominated trade flowing through Central America.

Incumbents are poorly positioned to close this gap. They lack stablecoin expertise, risk upsetting banking partners who may be hostile to crypto flows, and carry meaningful technical debt. Meanwhile, regulatory clarity is arriving: MiCA in Europe, the GENIUS Act in the U.S., and emerging-market regulators converging on issuer licensing frameworks. The window is open for a purpose-built, compliance-first player.

Why Infinia

They did the hard things first. Stablecoin infrastructure is not always defensible — but Infinia started with the fiat side. Built compliance-first from day one, the company absorbs the operational overhead of fragmented local KYC/KYB mandates and regional banking complexity. They hold licenses across multiple LatAm markets and are investing in more, maintain redundant banking partnerships in each country, and have integrated operationally demanding central-bank instant payment systems like Pix and SPEI. This is deep, unglamorous work that compounds into a real moat.

This is the right team. Co-founder and CEO Ianai Urwicz was a founding team member at dLocal (NASDAQ: DLO), the public payments company that proved emerging-market payments infrastructure can be a generational business. Co-founder and CTO Alejandro Rettig brings 25 years of telecom and financial systems expertise. Customer references were among the strongest we've heard — customers who actively sought alternatives couldn't find them. All of this with a lean team of just 20 people.

The bigger picture

We believe deep, horizontal money-movement infrastructure is one of the most attractive places to invest as stablecoin adoption grows — the TAM expands with the category itself. Infinia also sits at the center of a transition we're particularly excited about: onchain FX. Foreign exchange is one of the largest and least efficient markets in the world. Local-currency stablecoins, connected by market-based onchain infrastructure, can change that — and the companies that own the on/off-ramp layer and local issuance will be the ones that facilitate it.

We're thrilled to partner with Ianai, Alejandro, and the Infinia team, alongside Bain, Variant, and the rest of the syndicate.