Crossmint raises $23.6M for blockchain expansion

Crossmint, a blockchain infrastructure firm, has secured $23.6 million in funding to further develop its platform for building on-chain applications.

The investment round was led by Ribbit Capital, with participation from prominent investors including Franklin Templeton, Nyca, First Round, and Lightspeed Faction.

Crossmint's platform simplifies blockchain adoption for businesses by enabling them to integrate wallets, tokenisation, and payments with minimal code.

This approach has attracted over 40,000 users, including major brands like Adidas and Red Bull, which utilise the platform to transition their operations onto blockchain networks.

In addition to its core offerings, Crossmint is developing a framework for artificial intelligence (AI)-driven commerce.

This involves creating wallets and payment APIs specifically designed for AI agents, which will enable them to autonomously manage tasks such as shopping and personal styling.

"AI agents are reshaping commerce. Soon, they will autonomously manage tasks like grocery shopping or personal styling. Traditional payment systems weren’t designed for AI agents—but blockchain is," noted Alfonso Gomez-Jordana, co-founder of Crossmint.

The funding follows a year of significant growth for Crossmint, with its subscription revenue increasing by 1,100% in 2024.

The company plans to use the new capital to enhance its AI agent infrastructure and expand its global reach, positioning itself as a key player in the rapidly evolving blockchain landscape.

Crossmint's GOAT SDK, an open-source library for connecting AI agents to blockchain protocols, has seen substantial adoption, with 150,000 downloads in the past two months.