Adidas and Red Bull Use Blockchain Firm Crossmint to Raise $23.6 Million in Funding

Adidas and Red Bull Raise $23.6 Million in Funding Through Blockchain Firm Crossmint

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

Jamie Crowley, AI Boost | Edited by Aoyon Ashraf on 2025-03-18 17:47 UTC

Key points:

• Crossmint, a blockchain infrastructure company that helps businesses develop blockchain-based applications, has raised $23.6 million.
• The company's mission is to simplify blockchain implementation by enabling the integration of wallets, tokenization, and payment systems with minimal code.
• Crossmint is also developing an AI-powered trading framework, offering wallets and payment APIs for AI agents.

Crossmint, a blockchain infrastructure company that helps companies develop blockchain-based applications, has raised $23.6 million in funding.

With more than 40,000 users, the company aims to ease blockchain adoption by allowing businesses to integrate wallets, tokenization, and payments with minimal code, it said Tuesday. Crossmint users, which include major brands like Adidas and Red Bull, are using the platform to move their operations to the blockchain.

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Crossmint is also building a framework for AI-powered trading by providing wallets and payment APIs for AI agents.

“AI agents are transforming commerce. They will soon be able to handle tasks like grocery shopping or personal styling on their own,” said Alfonso Gomez-Jordana, co-founder of Crossmint. “Traditional payment systems weren’t designed for AI agents, but blockchain is.”

The investment round was led by Ribbit Capital with participation from Franklin Templeton, Nyca, First Round and Lightspeed Faction, Crossmint reported on Tuesday.

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