Investment Details
The round was led by Galaxy Ventures, with support from Coinbase Ventures, Founders Fund, VanEck, Mirana Ventures, LayerZero, Paxos, Boku, Payoneer, and Monerium.
Expansion Plans for Q4 2025
Ubyx plans to launch its live operations in the fourth quarter of 2025. This will mark the start of a broader rollout with support for additional currencies and a gradual move towards decentralized governance and infrastructure.
The platform is designed to function across numerous blockchain networks, including Aptos, Arbitrum, Avalanche, Base, Canton, Concordium, Hedera, Polygon, Solana, Starknet, Stellar, Sui, XDC, XRP Ledger, and ZKsync.
Infrastructure for Redemption and Interoperability
Ubyx offers a mutual clearing system aimed at simplifying the process of financial institutions and fintech companies redeeming various stablecoins into fiat. The platform connects stablecoin issuers with banks and payment providers, standardizing the redemption process to be treated as cash equivalents under existing accounting norms.
Officials from Ubyx highlight several limitations in today’s stablecoin market structure, including costly distribution models and regulatory barriers that prevent traditional institutions from integrating stablecoins into their treasury operations.
Expected Stablecoin Integrations
Stablecoin issuers expected to integrate with the platform include Paxos, Ripple, Agora, Transfero, Monerium, GMO Trust, BiLira, Juno (a Bitso company), Brale, Minteo, Tokenised GBP, Avenia, Agant, AllUnity, and Eurodollar.
Industry representatives who contributed to the seed round noted that Ubyx could play a key role in advancing interoperability among stablecoins. Galaxy Ventures commented on the model mirroring traditional payment networks’ operations, arguing that stablecoins will only become widely adopted once they can be accepted across multiple systems through a common framework.
Coinbase Ventures observed that open, public networks could have a transformative effect on payments similar to how the internet revolutionized communication. Founders Fund views Ubyx’s clearing system as an essential component in the regulatory environment where stablecoins are increasingly prominent and diversified.
