Why We Invested: Checker
Building the neutral global infrastructure layer for stablecoins
At IGNIA we invest in global, early-stage founders building technology solutions that address fundamental pain points in emerging markets. We look for businesses where the right team sees a structural gap before anyone else does and has the conviction to build the infrastructure to close it. Checker is exactly that, which is why we are proud to participate in their US$8MM Seed round.
The problem
Cross-border payments move US$194 Tn a year, yet they remain among the slowest and most expensive operations in global finance. Stablecoins promised to change that, and in many ways they have. The problem is convertibility: getting money into stablecoins and converting it back into local currency. Every financial institution that wants to use stablecoins must integrate separately with exchanges, OTC desks, and local providers across each corridor. The result is fragmented operations, manual treasury workflows, and an operational burden that makes scaling across geographies genuinely difficult.
Why Checker stands out
Checker solves this with a single API that aggregates 50+ providers across 75+ currencies. Banks, fintechs, neobanks, and remittance platforms integrate once and gain access to intelligent routing that selects the best available provider for each transaction based on price, speed, and reliability. Checker never holds client funds and does not compete with its own customers, which is precisely what allows it to serve as neutral infrastructure for the entire ecosystem.
Five months after generating its first revenue, Checker had reached US$4 Bn in annualized transaction volume, where more than 60% of its top ten clients already depend on Checker as their primary conversion channel, including Rail (recently acquired by Ripple), Braza Bank in Brazil, or Littio in Colombia.
A market at an inflection point
Stablecoins represent less than 1% of cross-border flows today but could capture more than 12% by 2030. Regulatory clarity is accelerating adoption: MiCA in Europe, the GENIUS Act in the US, and new frameworks across Africa are giving institutions the confidence to build on digital rails. Strategic acquirers are moving fast. Stripe bought Bridge for US$1.1 Bn and Mastercard agreed to acquire BVNK for up to US$1.8 Bn. The infrastructure layer is the most valuable position to hold as this market scales.
The Team
At IGNIA we invest in founders first. Justin McMahan served as CFO/COO at Abra, an IGNIA portfolio company, and as Global Treasurer at Tower Research Capital. Nathan Crocker scaled Galaxy Digital’s engineering team from 3 to 60 as Deputy CTO. Mike Zaczyk led 24/7 global trading operations at Abra across LATAM, EMEA, and APAC. Jack Chong was among the first to tokenize bonds in Europe, working directly with regulators and major banks. Together they bring over 70 years of experience in trading, treasury, and digital asset infrastructure, and the credibility to build the category’s defining network.
We are excited to support Jack, Justin, Mike, Nathan, and the entire Checker team as they build the infrastructure that makes stablecoins truly usable for financial institutions around the world.