Ubyx has developed a settlement system for stablecoins that enables global acceptance for banks and fintech companies, while securing $10 million in seed funding.
Ubyx Investment
Ubyx has announced the acquisition of $10 million in seed funding, led by Galaxy Ventures, with participation from Coinbase Ventures and other investors. The company focuses on creating a system that simplifies stablecoin transactions by allowing exchange at par value.
Issues in the Stablecoin Market
Currently, the stablecoin market faces issues of mass adoption due to an inefficient on/off-ramp system and the need for individual distribution networks for each issuer, significantly increasing costs. Ubyx aims to eliminate these barriers by providing a unified settlement system.
Future of Ubyx and Its Features
Ubyx is developing an infrastructure that will allow stablecoin transactions through regulated channels while complying with anti-money laundering and customer verification requirements. Operations are expected to launch in Q4 2025.
Ubyx aims to establish stablecoin support on a global level by connecting different networks and issuers, potentially making them a primary tool in the digital payment landscape.
