Lumx, a infrastructure company specializing in stablecoin payment rails, has successfully raised $3.4 million in a funding round co-led by Indicator Capital and CMT Digital.
The round saw participation from the Escala Capital fund, alongside strategic investors including Bitso, Nomad, and CAF Ventures (CAFE), as well as angel investors Josh Weiss and Chuk Okpalugo. The capital infusion is earmarked for expanding operations across Latin America and accelerating technological development.
The investment reinforces Lumx’s strategic pivot from its initial focus on corporate Non-Fungible Tokens (NFTs). Today, the company’s core mission is to integrate banks, fintechs, and payment providers into the use of fiat-pegged stablecoins, such as BRL, USDC, and USDT. Lumx had previously secured an investment from BTG Pactual in April 2023.
CMT Digital, a specialized venture capital firm in the blockchain ecosystem, brings significant expertise, having invested in over 150 companies, including key players like Circle, FalconX, Dapper Labs, ConsenSys, and BlockFi. Indicator Capital is a leading early-stage deep-tech venture capital manager, backed by investors such as Brazil’s National Bank for Economic and Social Development (BNDES), Qualcomm Ventures, Multilaser, Lenovo, Motorola, Banco do Brasil, and Telefônica.
Expansion and Regulatory Commitment
According to the company, Lumx will intensify its expansion across Latin America in the coming months. This will involve deepening institutional partnerships and enhancing dialogue with regulatory bodies. The company plans to maintain a lean structure of around 30 employees, focusing on empowering the team to tackle new challenges rather than simply increasing headcount.
“The entire world is paying attention to the transformation brought by stablecoins and how they are redefining payments and financial infrastructure,” stated Caio Barbosa, co-CEO of Lumx. “This round reinforces our role in leading this progress responsibly, building bridges between banks, fintechs, and a more reliable and transparent stablecoin ecosystem in Latin America.”
Lumx also intends to focus on unlocking the operational potential for banks and financial institutions that have not yet adopted stablecoins, clearly articulating the product’s objectives, advantages, and security mechanisms.
Stablecoins are less bureaucratic
Derek Bittar, co-founder of Indicator Capital, emphasized the need for simplicity in mass adoption. “Blockchain-based technologies and infrastructures will not be mass-adopted while they remain complex and inaccessible. Abstraction is key to making this technology invisible, intuitive, and secure, and Lumx does this with excellence. Their infrastructure securely connects the real world to the cloud in an interoperable and regulated manner.”
The fintech’s offering leverages the benefits of stablecoins over traditional international transfers via the SWIFT system—which is often slower, more bureaucratic, and expensive, even as SWIFT itself tests blockchain solutions to remain competitive.
Accordingo to Gabriel Polverelli, co-founder of Lumx, “Brazil is going through a moment of defining new regulatory frameworks for the stablecoin and digital asset market. Connecting large financial institutions to this ecosystem means integrating technology while ensuring governance and compliance at the highest standards. This commitment exactly
