Crossmint Raises $23.6M to Simplify Blockchain Adoption for Companies

Crossmint, a blockchain infrastructure firm helping companies build on-chain applications, has raised $23.6 million in funding.

Crossmint, a blockchain infrastructure firm focused on helping companies build on-chain applications, has raised $23.6 million in funding.

The company, which has over 40,000 users and works with brands including Adidas and Red Bull to integrate wallets, tokenization, and payments with minimal code, said it aims to simplify the process of transitioning a company's operations on-chain.

Crossmint is also building a framework for AI-driven commerce, providing wallets and payment APIs for AI agents.

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

Ribbit Capital led the investment round with additional participation from Franklin Templeton, Nyca, First Round, and Lightspeed Faction, Crossmint announced on Tuesday.

The firm said it will use the funds to continue developing its technology and expanding its product offerings. Crossmint also plans to invest in strategic partnerships and acquisitions to further its mission of democratizing access to blockchain.

"We're thrilled to partner with Crossmint as they build the infrastructure for the next generation of web3 applications," said Ben Ho, partner at Ribbit Capital. "Their focus on user experience and interoperability will be critical to unlocking mass adoption of blockchain technology."

Crossmint's platform enables companies to quickly and easily create and deploy on-chain applications. The company's modular architecture allows businesses to mix and match components to build bespoke solutions that meet their specific needs.

Crossmint's technology has already been used by some of the world's biggest brands to launch successful web3 initiatives. For example, Adidas used Crossmint's platform to launch its limited-edition sneakers and apparel on the blockchain, while Red Bull used the platform to create a tokenized fan engagement program.

"We're excited to see what the future holds for Crossmint as they continue to innovate and push the boundaries of what's possible with blockchain," said R. A. (Ray) Brown, Jr., chairman and CEO of Franklin Templeton. "We believe that Crossmint's technology has the potential to transform the way we live, work, and interact with the world around us."

Crossmint is a blockchain infrastructure firm that is helping to simplify the process of building on-chain applications. The company's mission is to democratize access to blockchain technology and empower everyone to participate in the future of the web3 economy.

Crossmint's platform provides a complete set of modular components that can be used to create any type of on-chain application. The company's technology is designed to be user-friendly and interoperable, making it easy for developers to get started and integrate with existing systems.

Crossmint is also investing in the development of AI-driven commerce, which will enable AI agents to autonomously manage tasks such as grocery shopping or personal styling. The company is creating a framework of wallets and payment APIs for AI agents, which will be deployed on Crossmint's chain.

"We are focused on lowering the barriers to entry for brands and creators to participate in the future of web3," said Jordana. "At the same time, we are investing in the technologies that will unlock the next chapter of commerce, powered by AI agents and the metaverse."