According to Bloomberg, Ubyx Inc., a stablecoin clearing startup founded by former Citigroup executive Tony McLaughlin, announced the completion of a $10 million seed funding round, led by Galaxy Ventures, with participation from Founders Fund, Coinbase Ventures, Paxos, VanEck, and others.

Ubyx is committed to building a clearing and interoperability network for stablecoin issuers, banks, and fintech companies to address the current issues of stablecoin fragmentation and insufficient compatibility. Ubyx plans to launch by the end of this year, initially supporting chains such as Solana and Base, and has already collaborated with Paxos, Ripple, AllUnity, among others.

According to Bloomberg, Ubyx Inc., a stablecoin clearing startup founded by former Citigroup executive Tony McLaughlin, announced the completion of a $10 million seed round led by Galaxy Ventures, with participation from Founders Fund, Coinbase Ventures, Paxos, VanEck, and others. Ubyx is dedicated to building a clearing and interoperability network for stablecoin issuers, banks, and fintech companies to address the current issues of stablecoin fragmentation and insufficient compatibility. Ubyx plans to launch by the end of this year, initially supporting chains such as Solana and Base, and has already partnered with Paxos, Ripple, and AllUnity.

Stablecoin liquidation startup Ubyx completes $10 million seed round led by Galaxy Ventures