Crypto API provider Crossmint secures $23.6 million funding over three rounds for its platform.
Crossmint, a unique crypto API infrastructure platform, has secured $23.6 million in funding to integrate wallets, stablecoins, and blockchain primitives with AI agents. This innovative approach aims to enable seamless, automated on-chain interactions and payments.
Founded in 2022 by engineers Rodri Fernández Touza and Alfonso Gómez-Jordana Mañas, Crossmint's top draw for customers is its stablecoin APIs. The company is attracting clients interested in leveraging AI bots for sending and receiving cryptocurrencies.
Crossmint's focus is on traditional tech firms, fintechs, and banks, as well as the gaming, identity, ticketing, and digital art sectors with AI-enabled payments. Unlike common practices, the fundraising did not offer warrants for the allocation of yet-to-be-launched tokens.
The funding rounds included a seed round, a strategic round, and a Series A round led by Ribbit Capital. Participants also included Franklin Templeton, Nyca, First Round, and Lightspeed Faction. The round was structured as simple equity, without the promise of crypto ownership.
Crossmint serves larger institutions, while Alchemy, a blockchain development platform, primarily focuses on providing enhanced APIs, development tools, and infrastructure to build, monitor, and scale decentralized applications (dApps) and decentralized finance (DeFi) products.
Crossmint's unique feature is its tight integration of wallet infrastructure and AI-driven automated payment and transaction execution mechanisms, along with multi-chain support and on-chain contract interactions tailored for AI agents and applications.
In contrast, Alchemy focuses more broadly on blockchain node infrastructure, monitoring, and developer tooling. This makes Crossmint uniquely positioned to bridge AI and blockchain payments infrastructure, whereas Alchemy focuses on general blockchain development infrastructure and tooling.
The company provides a toolkit that allows programmers to easily integrate crypto technology into their applications. Notable companies using Crossmint technology include Adidas, Red Bull, and Coinbase. Crossmint is designed to appeal to software engineers.
[1] VentureBeat [2] TechCrunch [4] The Block
In a nutshell:
| Aspect | Crossmint | Alchemy | |----------------------------|-----------------------------------------------------|--------------------------------------------| | Core focus | Crypto API platform integrating wallets, stablecoins, and AI-driven on-chain payment automation | Blockchain node infrastructure and developer tools for dApps and DeFi | | Unique feature | AI-agent integration with one-click wallet creation, automated transactions, multi-chain support | Scalable APIs, monitoring, and analytics for Ethereum and other blockchain apps | | Customer sectors | Fintech, gaming, identity, ticketing, digital art with AI-enabled payments | Wide spectrum of blockchain developers and enterprises building dApps and DeFi |
This makes Crossmint uniquely positioned to bridge AI and blockchain payments infrastructure, whereas Alchemy focuses on general blockchain development infrastructure and tooling.
- The funding obtained by Crossmint can potentially open doors for investors interested in news related to finance and investing, as the crypto API platform aims to leverage AI bots for seamless on-chain interactions and payments, particularly in sectors like fintech, gaming, identity, ticketing, and digital art.
- In the realm of technology, Crossmint sets itself apart from competitors like Alchemy by integrating AI-driven automated payment and transaction execution mechanisms with wallet infrastructure and stablecoin APIs, offering a unique toolkit for software engineers to easily integrate crypto technology into their applications, attracting clients such as Adidas, Red Bull, and Coinbase.
