Ubyx Secures $10 Million to Standardize Stablecoin Redemptions
Ubyx, a financial technology startup specializing in stablecoin redemption solutions, has completed a $10 million seed funding round. The investment was led by Galaxy Ventures, with participation from Coinbase Ventures, Founders Fund, VanEck, and Paxos. The company plans to launch its platform in the fourth quarter of 2025.
Solving Stablecoin Market Challenges
The current stablecoin market suffers from fragmentation and inefficiency. Ubyx addresses these issues through:
- A unified clearing system connecting multiple issuers and financial institutions
- Par value redemption directly into traditional bank accounts
- Accounting treatment that recognizes stablecoins as cash equivalents
Strategic Partnerships and Blockchain Support
Ubyx will integrate with major blockchains including Aptos, Arbitrum, and Solana. The platform has secured infrastructure partnerships with BitGo, Chainalysis, and Fireblocks to ensure robust operational capabilities.
The Expanding Stablecoin Ecosystem
According to Daren Matsuoka, a data scientist at a16z Crypto, stablecoins processed 19.4 times more transaction value than PayPal in the past year. This growth underscores the need for innovative solutions like Ubyx’s platform.
