Enterprise stablecoin banking platform Jeevs has raised $110 million in funding.

The investment was led by CoinFund. AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, GIC and Y Combinator also participated.

Jeevs provides financial operations systems used by companies. It supports corporate cards, payables, fund transfers and expense management.

The company said Jeevs' revenue quadrupled in 14 months. Annualised card and payment transaction volume more than tripled from a year earlier to exceed $5 billion. Stablecoins grew the fastest. Stablecoin transaction volume, which was effectively zero as recently as 8 months ago, rose to an annualised $1.5 billion. Companies seeking to move money between markets where cross-border remittances are slow or expensive drove the growth.

Jeevs will increase the number of countries where it offers stablecoin card services to 35 from 25. The company said Argentina, Costa Rica, Peru and Uruguay will be newly included, bringing coverage to most of Latin America.

It also introduced its own stablecoin wallet that can send remittances instantly to 190 countries, an AI-based spending tracking function and an accounts receivable management function.

Dilipp Tazmoon (딜립 타즈몬), Jeevs' founder and CEO, said, "To provide the same speed and cost when moving money between Sao Paulo and Berlin as when transacting within a country, it had to be based on stablecoins."