The Ubyx platform, focused on stablecoin clearing, has raised $10 million in a seed round, laying the foundation for its mission to enhance the stability and adoption of stablecoins in traditional finance.
Funding and Founders of Ubyx
Ubyx was founded by Tony McLaughlin, a payments industry veteran. The funding round was led by Galaxy Ventures, with participation from Coinbase Ventures, Founders Fund, VanEck, and others.
Benefits of Ubyx Platform
Ubyx addresses the fragmented nature of stablecoin redemption processes by providing clearing infrastructure that connects stablecoin issuers with banks and fintechs, allowing for direct fiat account redemptions. It also integrates tools for AML, KYC, and fraud prevention.
Future of Stablecoins and Ubyx
Ubyx is expected to launch in Q4 2025 and has already attracted a wide range of participating stablecoin issuers, such as Paxos and Ripple. Experts have noted that Ubyx could become a foundational element in the evolution of digital payments.
The Ubyx platform is poised to transform the current landscape of stablecoins by bridging traditional financial institutions with new digital assets, thereby creating a more efficient ecosystem.
