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Stablecoin Clearing Startup Ubyx Raises $10M in Round Backed by Galaxy and Coinbase
- Ubyx announced a $10 million seed round on June 17, led by Galaxy Ventures and backed by Coinbase Ventures, Founders Fund, and others.
- Market fragmentation, with issuers building costly separate networks, prompted Ubyx to develop a unified clearing system to enable interoperability and mass adoption.
- Ubyx's system will support redemption through regulated banks and fintechs with AML and KYC checks, involving issuers like Paxos, Ripple, and Agora.
- Ubyx plans to launch live operations in Q4 2025, with partnerships and decentralization strategies in development, aiming to address market fragmentation.
- Ubyx's $10 million seed funding aims to unify fragmented stablecoin networks, potentially enabling stablecoins to be treated as cash equivalents and transforming industry adoption.
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20 Articles
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Stablecoin Clearing System Ubyx Raises $10M - Markets Media
Ubyx is founded by 30-Year Payments Veteran to Build Global Stablecoin Acceptance Network Ubyx, the stablecoin clearing system that enables regulated banks and fintechs to redeem stablecoins at face value, announced its $10M seed round led by Galaxy Ventures with participation from Coinbase Ventures, Founders Fund, VanEck, Mirana Ventures, LayerZero, Paxos, Boku, Payoneer, and Monerium. Ubyx is designed to deliver stablecoin ubiquity, meaning gl…
Ubyx gets $10M to revolutionize the use of stablecoins! In a movement that promises to transform the cryptocurrency landscape, Ubyx has secured a $10 million investment in order to standardize the redemption of stablecoins and promote their global adoption. Backed by Galaxy Ventures, funding highlights the growing importance of stablecoins in the current financial market. Ubyx receives $10M to improve the redemption of stablecoins The Ubyx platf…
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