Ubyx completes $10 million financing to build a global stablecoin acceptance network.

OnChainDetective · 2025-06-17T11:50:28+00:00

Ubyx has completed a $10 million seed round financing, aiming to build a settlement system for stablecoins and Financial Institutions, addressing payment interoperability issues. The plan is to establish a global stablecoin acceptance network, supporting multiple Blockchains, and it will be launched by the end of the year.

OnChainDetective

2025-06-17 11:50:28

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On June 17, Ubyx, a stablecoin startup founded by former Citigroup executive Tony McLaughlin, completed a $10 million seed round of financing, led by Galaxy Ventures, with participation from Founders Fund, Coinbase Ventures, Paxos, and VanEck.

The company is committed to building a clearing system that connects stablecoin issuers with banks and fintech companies to solve interoperability issues in payment scenarios. Ubyx plans to establish a global stablecoin acceptance network similar to Visa and Mastercard, enabling stablecoins issued by various institutions to circulate across platforms. Its system will support blockchains such as Solana, Base, Canton, and XRP Ledger, and has already formed partnerships with stablecoin issuers like Paxos and Ripple. The network is expected to go live by the end of the year and will also be compatible with other forms of digital assets, including central bank digital currencies.

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