Startup Ubyx, which offers a stablecoin clearing platform, has secured $10 million in funding led by Galaxy Ventures. The platform aims to simplify stablecoin usage.
Ubyx Funding and Partners
Ubyx has raised $10 million in a seed funding round with participation from Coinbase Ventures, Founders Fund, and others. The platform is set to launch in Q4 2025.
Challenges in the Stablecoin Market
The current stablecoin market faces barriers to mass adoption, such as the lack of interoperability among different issuers. Ubyx claims its clearing system addresses these issues.
Integrating Stablecoins into Traditional Finance
Ubyx aims to integrate stablecoins into traditional financial systems by allowing users to redeem stablecoins for fiat at par value directly in bank and fintech accounts.
Ubyx is working to make stablecoins more accessible and easier to use. The development of such platforms could significantly impact the future of the financial sector.
