Mural, a fintech startup building payment rails that treat dollars and stablecoins as interchangeable, has raised $15 million in a Series A led by Tether. The round brings the company’s total funding to $28 million.
What Mural actually does
Mural describes itself as a compliant system for running financial operations, built around unified accounts that hold both fiat currencies and stablecoins. Payments go out in whichever form the recipient needs, and compliance checks run automatically in the background.
The company was co-founded in 2022 by Sinclair Toffa, who serves as CEO, and Chris Fernandes, the COO. Both are former Palantir engineers.
The funding, announced on October 20, 2026, arrives just days after a cosmetic change. In mid-October 2026, the company dropped the “Pay” and rebranded from Mural Pay to simply Mural.
The numbers behind the raise
Mural launched its API in 2025. Since then, it has processed $2.1 billion in total payment volume across 128 countries.
Growth is also accelerating. Mural’s 2026 payment volume is projected to come in at nearly six times the total it processed across all of 2025.
The company’s named customers include Deel, the global payroll and HR platform, along with browser maker Opera and Axexo.
Why Tether is writing the check
Tether CEO Paolo Ardoino pointed to Mural’s enterprise-grade software as a primary reason for the investment. He also emphasized a growing need for what he described as agent-driven money movement.
Next stop: Latin America
Mural plans to use the new capital to fund global expansion and strengthen its compliance and payment infrastructure. Latin America is a stated priority. The company intends to hire a country manager in Argentina to build out its local presence.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.