Stablecoin market dynamics cryptocurrency exchange digital asset financial technology futuristic environment

Key Takeaways:

Ubyx raised $10M in seed funding to launch a stablecoin clearing platform connecting banks and fintechs for seamless fiat redemptions.
The platform targets stablecoin adoption by addressing infrastructure fragmentation and improving accounting classification.
Backed by major players like Galaxy Ventures, Coinbase, and Paxos, Ubyx plans to launch in Q4 2025 with support for multiple blockchains.

Ubyx has raised $10 million in seed funding to build a standardized stablecoin-redemption platform slated for Q4 2025.

The round was led by Galaxy Ventures with backing from Coinbase Ventures, Founders Fund, VanEck, and Paxos.

Two months ago, we released the Ubyx Whitepaper. Today, we announce a $10M seed round led by Galaxy Ventures, with participation from Coinbase Ventures, Founders Fund, VanEck, and industry stakeholders to deliver the global clearing system that will unlock stablecoin ubiquity. pic.twitter.com/XT8QwSxRlL
— Ubyx (@ubyx_) June 17, 2025

Ubyx’s platform will let regulated banks and fintechs redeem multiple stablecoins for fiat at par value, eliminating today’s fragmentation caused by each issuer running its own rails.

By connecting issuers with traditional institutions, Ubyx aims to let businesses treat stablecoin balances as cash equivalents on their books – a step many CFOs see as critical for adoption.

The startup is collaborating with issuer Paxos, blockchain firm Ripple, and infrastructure partners BitGo, Chainalysis, Copper, and Fireblocks to ensure security and compliance.

It will support a wide range of blockchains including Solana, Polygon, Starknet, XRPL, Aptos, and Base, giving users cross-chain flexibility from day one.

Investor Mike Giampapa says a “shared acceptance network” will make stablecoins as ubiquitous as cards, while Coinbase’s Shan Aggarwal likens public-chain payments to email for money.

With stablecoins already processing nearly 20x PayPal’s annual volume, Ubyx hopes its clearing layer will lower costs, boost interoperability, and accelerate mainstream stablecoin adoption across the financial ecosystem.