Ubyx Raises $10 Million in Seed Funding

Ubyx, a stablecoin clearing platform, has raised $10 million in a seed funding round led by Galaxy Ventures. Other notable investors include Coinbase Ventures, Founders Fund, VanEck, Mirana Ventures, LayerZero, Paxos, Boku, Payoneer, and Monerium.

About Ubyx

Ubyx offers a regulated system that enables banks and fintech companies to redeem various stablecoins at face value. This system connects stablecoin issuers with receiving institutions, facilitating stablecoin redemption for fiat without price fluctuations. Participating stablecoin issuers include Paxos, Ripple, Agora, Transfero, Monerium, GMO Trust, BiLira, Juno (Bitso), Brale, Minteo, Tokenised GBP, Avenia, Agant, AllUnity, and Eurodollar.

Blockchain Compatibility

Ubyx will support multiple blockchain networks, such as Aptos, Arbitrum, Avalanche, Base, Canton, Concordium, Hedera, Polygon, Solana, Starknet, Stellar, Sui, XDC, XRP Ledger, and ZKsync. This extensive compatibility is aimed at enhancing stablecoin utilization across public blockchain infrastructures within the traditional financial (TradFi) sector.

Partnerships

The platform is collaborating with several tech providers, including Axelar, BitGo, Chainalysis, Copper, Fireblocks, GK8 by Galaxy, IntellectEU, Kaleido, TRM Labs, and Zodia Custody. These partners will supply essential tools like secure wallets and blockchain analytics to assist financial institutions in adopting the platform.

Future Plans

Ubyx aims to launch its operations in Q4 2025 and plans to gradually decentralize its governance and technology. The Ubyx Association will welcome financial institutions, regulators, and industry stakeholders interested in collaborating on stablecoin-related strategies and infrastructure.

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