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Client Highlights
4.08.26
Firm Advises Katana on Its Acquisition of IDEX
On March 23, 2026, Katana, a DeFi blockchain built around a tightly integrated trading stack, announced it has completed the acquisition of IDEX, a decentralized exchange and on-chain trading infrastructure team, and launched Katana Perps, a native perpetual futures platform. Katana was incubated by Polygon and GSR Markets. Wilson Sonsini Goodrich & Rosati advised Katana on the transaction.
Client Highlights
4.03.26
Wilson Sonsini Advises Latitude on $8 Million Financing
On March 31, 2026, Latitude, a cross-border payments company, emerged from stealth and announced an $8 million financing round led by NEA, with participation from Lightspeed Faction, Coinbase, Paxos, and Solana Foundation, among other investors. Latitude’s flagship product, Global Fiat Payouts, enables U.S. businesses to pay recipients in more than 50 countries by converting dollars to stablecoins and then into local fiat currency. Its second product, International Stablecoin On-and-Off-Ramps, is embeddable directly into wallets and fintechs, and gives users a single API to move between local fiat and stablecoins across multiple markets.
Client Highlights
3.18.26
Firm Advises Mastercard on Data, Privacy, and Cyber Aspects of BVNK Acquisition
On March 17, 2026, Mastercard announced a definitive agreement to acquire BVNK, a leader in stablecoin infrastructure, for up to $1.8 billion, including $300 million in contingent payments. The deal further expands Mastercard's end-to-end support of digital assets and value movement across currencies, rails, and regions. Wilson Sonsini Goodrich & Rosati advised Mastercard on data, privacy, and cyber issues related to the transaction.
Alerts
1.22.26
2026 Antitrust Year in Preview
Last year was a landmark in the development of antitrust law. Enforcers, legislators, and private parties grappled with the fundamental shift represented by artificial intelligence (AI) technologies, the resolution of important digital technology antitrust cases, and significant divergence in policy across a presidential administration transition. The changes will not stop in 2026. In this preview, we focus on several economic sectors that were most impacted by developments in antitrust law in 2025 to identify the trends that will drive governmental and private activity in antitrust in 2026.
Client Highlights
1.21.26
Wilson Sonsini Advises Meld on $7 Million Strategic Round
On January 14, 2026, Meld, a network for accessing digital assets and stablecoins, announced the close of a $7 million strategic funding round led by Lightspeed Faction, with participation from F-Prime, Yolo Investments, and Scytale Digital. Wilson Sonsini Goordrich & Rosati advised Meld on the transaction.
Client Highlights
1.14.26
Wilson Sonsini Advises Polygon Labs on Acquisitions of Coinme and Sequence
On January 13, 2026, Polygon Labs announced definitive agreements to acquire Coinme and Sequence for more than $250 million to expand into regulated stablecoin payments in the U.S. Both companies will play foundational roles in building Polygon's forthcoming Open Money Stack, which aims to facilitate instant and reliable money movement. The Polygon Open Money Stack includes physical cash and digital fiat on- and off-ramps, wallet infrastructure, and cross-chain orchestration through intents. Wilson Sonsini Goodrich & Rosati is advising Polygon on both transactions.
Client Highlights
11.19.25
Wilson Sonsini Advises Lighter on $68 Million Financing
On November 11, 2025, Lighter, a decentralized trading platform built for unmatched security and scale, announced it raised $68 million in a funding round at an implied $1.5 billion fully-diluted valuation led by Founders Fund and Ribbit Capital. Wilson Sonsini Goodrich & Rosati advised Lighter on the transaction.
Client Highlights
11.13.25
Wilson Sonsini Advises Circle in Connection with Launch of Circle StableFX
On November 13, 2025, Circle Technology Services, LLC, a global financial technology company and stablecoin market leader, announced the launch of Circle StableFX, an institutional-grade engine for onchain stablecoin foreign exchange (FX), built on Arc. Wilson Sonsini Goodrich & Rosati advised Circle on the launch, led by Fintech and Financial Services partner Jess Cheng.
Client Highlights
10.24.25
Wilson Sonsini Advises Tesser on $4.5 Million Seed Round
On October 21, 2025, Tesser announced that it has secured $4.5 million in seed funding for its cross-border stablecoin payments solution in a round led by Castle Island Ventures alongside Strobe Ventures and Anthemis, with participation from other strategic investors. Wilson Sonsini Goodrich & Rosati advised Tesser on the transaction.
Founded by Geetha Panchapakesan, a payments veteran who spent 18 years at MoneyGram, Visa Direct, and Circle, the company’s stablecoin payment platform addresses a critical gap: licensed financial institutions want to enable stablecoins, but lack the technical infrastructure to do so quickly and compliantly. The platform handles wallet provisioning, treasury management, compliance orchestration, and reconciliation—abstracting blockchain complexity and allowing institutions to maintain full control over risk and customer relationships.
The Wilson Sonsini team that advised Tesser on the transaction included Jonathan Chan, Kyle Canchola, and Kelly Stern.
For more information, please see Tesser’s news release.
Founded by Geetha Panchapakesan, a payments veteran who spent 18 years at MoneyGram, Visa Direct, and Circle, the company’s stablecoin payment platform addresses a critical gap: licensed financial institutions want to enable stablecoins, but lack the technical infrastructure to do so quickly and compliantly. The platform handles wallet provisioning, treasury management, compliance orchestration, and reconciliation—abstracting blockchain complexity and allowing institutions to maintain full control over risk and customer relationships.
The Wilson Sonsini team that advised Tesser on the transaction included Jonathan Chan, Kyle Canchola, and Kelly Stern.
For more information, please see Tesser’s news release.
Client Highlights
10.20.25
Wilson Sonsini Advises Lead Investor Pantera Capital on Coinflow’s $25 Million Series A
On October 8, 2025, next-generation payment service provider Coinflow announced a $25 million Series A funding round led by Pantera Capital, with participation from CMT Digital, Coinbase Ventures, The Fintech Fund, Jump Capital, and Reciprocal Ventures. Wilson Sonsini Goodrich & Rosati advised lead investor Pantera Capital on the transaction.
Coinflow is pioneering payments innovation by combining stablecoins, AI-driven fraud prevention, and blockchain proof-of-delivery into a single platform. The financing will accelerate development of the company’s unified global pay-in and payout infrastructure with instant settlement via stablecoins.
Coinflow is pioneering payments innovation by combining stablecoins, AI-driven fraud prevention, and blockchain proof-of-delivery into a single platform. The financing will accelerate development of the company’s unified global pay-in and payout infrastructure with instant settlement via stablecoins.
Client Advisories
10.13.25
Enhanced Protection for DeFi Lenders, Buyers, and Investors Under Recent and New UCC Amendments
One of the primary use cases for crypto and digital assets has been lending and borrowing against such crypto assets as collateral, representing billions of dollars of activity. Crypto-backed loans are offered by centralized financial institutions, crypto exchanges, and decentralized finance (DeFi) protocols. Holders of crypto assets have long sought to borrow against their digital assets as collateral to generate leveraged returns and increase yield, such as the recent wave of digital asset treasury (DAT) companies.
Alerts
10.06.25
New York Regulator Issues Updated Guidance for Virtual Currency Custodians
Recognizing the growing demand for virtual currency custodial services and the increased use of sub-custodial relationships in the digital asset space, the New York Department of Financial Services (NY DFS) announced updated Guidance on Custodial Structures for Customer Protection in the Event of Insolvency on September 30, 2025 (2025 Guidance).