Stablecoins to Finance the Import Sector

• Brazilian Trade Finance Fintech Raises US$9.6 Million to Bring Stablecoins to Import Financing in Brazil
• Funds will be used to develop stablecoin infrastructure and expand its Trade Banking platform for SME importers.
• The opportunity is significant: in 2025, Brazil imported more than US$262 billion in goods, including machinery, electronics, industrial inputs, and chemicals.

Vixtra, the Brazilian fintech founded in 2021 by Leonardo Baltieri and Guilherme Rosenthal, announced the closing of a US$9.6 million Series A round (approximately BRL 50 million), led by Valor Capital. The round also included participation from Headline, NXTP, Actyus, Bluestone, Simma Capital, and angel investors.

The announcement comes as Latin America’s cross-border payments ecosystem experiences a wave of investments focused on integrating digital assets into international trade infrastructure.

The company reported 2.5x year-over-year growth. Its active credit portfolio has reached BRL 250 million, with an average term of 90 days per transaction, projecting an annualized volume of BRL 1 billion.

A Collateral Model Traditional Banks Do Not Offer

Vixtra’s operational advantage is based on a structural reality: Brazilian importers often cannot access conventional bank credit for foreign trade operations because goods in transit—cargo still at sea—have traditionally not been accepted as valid collateral by the financial system.

Vixtra turned this gap into a business model. The company finances up to 80% of an import’s value using Bills of Lading as collateral, offering terms of up to 150 days, extendable to 270 days.

The mechanism works as a revolving guarantee structure: as one shipment arrives, new bills of lading are incorporated into the transaction, allowing credit lines to remain active without requiring a new underwriting process.

The platform also provides foreign exchange services, real-time logistics visibility, and access to international trade service providers.

The market opportunity is substantial. In 2025, Brazil imported more than US$262 billion in goods, with significant demand for machinery, electronics, industrial inputs, and chemicals. More than 80% of importing companies are SMEs, yet they face the greatest barriers to accessing traditional bank financing.

Stablecoins as Infrastructure, Not as a Product

The allocation of Series A proceeds reflects a dual strategy: strengthening its Trade Banking ecosystem—which combines credit, FX, and technology in a single platform—and integrating stablecoins as an infrastructure layer for foreign exchange and international credit operations.

Three products are currently in beta:

• Stablecoin-based FX
• Stablecoin-based lending
• A global account

“In international trade, stablecoins can play a role similar to the one Pix played in domestic payments, opening a new horizon for trade finance solutions through new products, greater efficiency, and expanded competitive advantages. It would be like Pix for importers,” said Leonardo Baltieri, Co-founder and Co-CEO of Vixtra.

The goal is not for importers to understand blockchain technology. Digital asset infrastructure will operate seamlessly in the background, delivering faster settlement, lower transaction costs, and greater operational efficiency without requiring technical expertise.

The Context: Corporate Stablecoins Gain Ground in Cross-Border Payments

Vixtra’s move aligns with a broader trend that has gained momentum throughout 2025 and 2026.

In April, OpenFX raised US$94 million in the United States to expand instant foreign exchange settlement using stablecoins. In May, Corpay enabled stablecoin settlement for its 800,000 corporate clients. Research from PYMNTS found that 42% of corporate CFOs are already discussing stablecoins as a payment rail.

During the same period, Brazilian fintech Trace Finance closed a funding round led by CoinFund, with participation from Coinbase Ventures and Haun Ventures, to scale its global payments infrastructure powered by stablecoins.

Taken together, these developments suggest that stablecoins are evolving from a speculative asset class into the financial plumbing of international commerce.

AI as Core Infrastructure, Not a Marketing Feature

Alongside its stablecoin strategy, Vixtra plans to expand the use of artificial intelligence throughout its operations.

AI already underpins the company’s credit analysis, risk management, and operational automation processes through proprietary agents and data collection systems that, according to the company, have no equivalent within the traditional banking sector.

“The entire operation is managed within a proprietary integrated infrastructure, developed with intensive use of artificial intelligence and data, optimizing management and risk control,” explained Guilherme Rosenthal, Co-founder and Co-CEO.

Challenging Large Banks in Foreign Exchange

One competitive tension the company openly acknowledges concerns foreign exchange services.

While Vixtra positions itself as a complementary partner to banks in credit provision, its broader Trade Banking model—combining credit, FX, and technology in a unified platform—places pressure on revenue streams that banks have historically managed separately.

The question the market is watching is whether a specialized fintech can capture meaningful value in foreign exchange services without relying on the balance sheet strength of major banks.

Deal Snapshot

Deal Snapshot