Ubyx, a stablecoin clearing startup founded by former Citigroup executive Tony McLaughlin, has raised $10 million in a seed funding round led by Galaxy Ventures.
The round also saw participation from notable investors including Founders Fund, VanEck, and several others, signaling strong confidence in Ubyx’s mission to build next-generation stablecoin infrastructure.
The company aims to address inefficiencies in stablecoin settlement by creating a unified clearing layer that connects various blockchain networks.
Ubyx to Launch by Year-End with Initial Support for Solana and Base
Set to launch by the end of this year, Ubyx will initially support high-speed blockchains such as Solana and Base, with plans to expand further.
The platform is expected to streamline stablecoin transactions between institutions, reduce friction, and enhance interoperability across chains—key requirements for scaling digital dollar use in mainstream finance.
McLaughlin, known for his work on Citi’s “Regulated Liability Network” concept, brings deep financial expertise to the venture, blending traditional finance insight with crypto-native technology.
The funding will help accelerate development, build out partnerships, and support regulatory engagement.
As stablecoins gain traction globally, Ubyx’s entry into the market reflects a broader push toward institutional-grade infrastructure for digital assets, potentially positioning it as a key player in the evolving stablecoin ecosystem.
Ubyx Raises $10M Seed Round Led by Galaxy Ventures, Backed by Coinbase, Paxos, VanEck
Galaxy Ventures led the $10 million seed round in Ubyx Inc., with participation from Coinbase Ventures, Paxos, VanEck, and others.
Ubyx is developing a stablecoin clearing system designed to connect stablecoin issuers with banks and fintech companies.
The goal is to reduce transaction friction and streamline the use of stablecoins for everyday payments. By providing a unified infrastructure, Ubyx aims to make stablecoin adoption more seamless and accessible, especially for institutions and financial service providers.
This approach could help bridge the gap between traditional finance and the growing stablecoin ecosystem, improving speed, efficiency, and reliability for digital asset transactions across supported blockchain networks.
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Ubyx’s $10M Raise Signals Rising Institutional Focus on Stablecoin Infrastructure
The $10 million seed funding for Ubyx highlights growing institutional interest in improving stablecoin infrastructure.
As stablecoins become increasingly important for digital payments and financial inclusion, Ubyx’s clearing system aims to solve a key challenge—connecting issuers with banks and fintechs in a frictionless, interoperable way.
By streamlining settlement and improving reliability, Ubyx could help unlock wider adoption of stablecoins in mainstream finance.
Backing from major players like Galaxy Ventures, Coinbase Ventures, and Paxos underscores confidence in the project’s potential to bridge traditional finance and crypto, positioning it as a key enabler in the evolving digital payments landscape.
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