Stablecoin Settlement Network Ubyx Secures $10 Million in Funding with Participation from Galaxy, Coinbase, and VanEck
As Stablecoins Gradually Become the New Infrastructure for Digital Payments, Swift Currency Exchange Becomes a Key Step
Ubyx, a stablecoin clearing and settlement company founded by former senior executives of Citibank, has announced the completion of a $10 million seed funding round, with participation from Galaxy, Coinbase, and VanEck. The goal is to establish a seamless asset transfer channel between global banks and fintech startups.
Breaking the “Island” Bottleneck of Stablecoins: Ubyx Connects Global Clearing Networks
Ubyx is an innovative stablecoin clearing platform focused on addressing the fragmentation of the stablecoin market and the major withdrawal issues faced by users. The platform enables regulated banks and fintech companies to seamlessly exchange stablecoins for fiat currency, significantly reducing transaction costs and compliance risks for institutional users.
Fund Transfer, Clearing, and Settlement Process
The company was founded by Tony McLaughlin, former head of emerging payments at Citibank, with the aim of uniting companies such as Paxos and Ripple to create a globally interoperable exchange network and common clearing standards, transforming stablecoins from scattered “islands” into “digital cash” that banks can truly accept:
Advertisement – Continue scrolling for more content
Currently, most stablecoins face two major barriers. First, each stablecoin issuer must establish its own distribution and exchange network, which is costly. Additionally, companies and banks currently cannot effectively and compliantly classify stablecoins as cash equivalents on their balance sheets.
As an intermediary, Ubyx handles various stablecoin inflows, outflows, and redemptions while conducting AML, KYC, and sanctions screening, providing an efficient and compliant settlement system. It is expected to support multiple blockchains including Solana, Arbitrum, Polygon, and Sui, and collaborate with crypto infrastructure providers such as BitGo, Chainalysis, and Fireblocks.
Raising $10 Million, Endorsed by Galaxy, Coinbase, and VanEck
Today, Ubyx announced the completion of a $10 million seed funding round, led by Galaxy Ventures, with participation from Coinbase Ventures, Founders Fund, VanEck, LayerZero, and Paxos. This impressive lineup of investors not only symbolizes the market’s demand for digital payment infrastructure technology but also reflects a high expectation for the development prospects of the stablecoin sector.
“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
Bridget Harris, an investor at Founders Fund, stated, “As regulations clarify and stablecoins continue to expand, we need a clearing system that makes these assets instantly interoperable and substitutable.”
Ubyx Set to Launch in Q4, Paving the Way for Mass Adoption of Stablecoins
Ubyx is expected to officially launch in the fourth quarter of 2025. The platform will initially focus on compliant exchanges and settlement services between stablecoins and fiat currencies, with plans to gradually promote decentralization of technology and governance in the future. McLaughlin remarked:
“Ubyx’s goal is to open the era of native stablecoins, allowing payment architectures to truly embrace a future of multi-currency, multi-chain, and global interoperability.”
As the market capitalization of stablecoins surpasses $250 billion, their potential and trend can no longer be ignored. Major corporations, including JPMorgan, Amazon, Walmart, and various banks or business giants, have expressed intentions to issue their own stablecoins. Now, the clearing platform developed by Ubyx represents a significant step towards institutionalizing and infrastructuralizing this force.
As Coinbase Ventures stated, “Just as the Internet changed the way we communicate, stablecoins will change the way we pay, and Ubyx is a key player in this revolution.”
Risk Warning
Investing in cryptocurrencies carries a high level of risk, and their prices may be highly volatile, which could result in the loss of your entire principal. Please assess the risks carefully.
