Stablecoin startup Ubyx has completed a $10 million seed round financing, led by Galaxy Ventures.

2025-06-17 11:10:41

On June 17, Ubyx, a stablecoin startup founded by former Citigroup executive Tony McLaughlin, closed a $10 million seed round led by Galaxy Ventures, with participation from Founders Fund, CEX Ventures, Paxos, and VanEck, among others. The company is committed to building clearing systems that connect stablecoin issuers with banks and fintech companies to solve interoperability issues in payment scenarios. Ubyx plans to establish a global stablecoin acceptance network similar to Visa and Mastercard, enabling cross-platform circulation of stablecoins issued by various institutions. The system will support blockchains such as Solana, Base, Canton, and XRP Ledger, and has partnered with stablecoin issuers such as Paxos and Ripple. The network is expected to go live by the end of the year and will also be compatible with other forms of digital assets such as central bank digital currencies in the future.

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