Ubyx, an emerging startup, has raised $10 million in a seed round led by Galaxy Ventures to standardize the process and facilitate the adoption of stablecoins on a large scale.
As we know, the redemption of stablecoins at nominal value represents a crucial challenge today for the spread of this financial asset in the real economy. In this article, we will see all the details.Â
Ubyx: the new frontier of stablecoin redemption
Ubyx presents itself as a platform for stablecoin clearing that enables the direct conversion of these assets into fiat currency at face value, reducing the traditional frictions present in the bull and bear market.Â
The stated goal is to launch the service in the fourth quarter of 2025, offering a regulated solution that involves banks and authorized fintech.
The $10 million fundraising sees the support of major investors in the crypto and fintech sectors, including Coinbase Ventures, Founders Fund, VanEck, Paxos, and others.
Thanks to these partners, Ubyx will be able to develop an integrated network that overcomes the current barriers of interoperability and high costs.
The stablecoin market still encounters several obstacles that slow down its widespread implementation.
Currently, the distribution and redemption of stablecoins are fragmented: each issuer develops its own independent network, causing inefficiencies and limiting accessibility for end users and institutions.
Furthermore, many financial institutions still cannot consider stablecoins as cash equivalents in their balance sheets, due to the lack of standardization and a shared clearing system.
Ubyx presents itself as a solution capable of connecting different stablecoin issuers with multiple receiving financial institutions, thus creating a centralized clearing system.
This model allows the redemption of stablecoins directly into existing bank or fintech accounts, at face value and in a regulated manner.
As a result, the platform helps reduce market fragmentation and promotes the accounting recognition of stablecoins as cash equivalents, opening new perspectives for institutional adoption.
Strategic partnerships and supported technologies
To ensure a solid and secure infrastructure, Ubyx has established collaborations with key partners such as Paxos, issuer of stablecoin, and Ripple, specialized in blockchain solutions for financial services.
In addition to these, there are other key players in the crypto and fintech sector, including BitGo, Copper, Chainalysis, and Fireblocks.
The Ubyx platform will initially support several prominent blockchains, including Aptos, Arbitrum, Avalanche, Base, Canton, Concordium, Hedera, Polygon, Solana, Starknet, Stellar, Sui, XDC, XRPL, and ZKsync.Â
This broad compatibility will ensure users the ability to operate with stablecoins issued on different networks, all traceable to a single efficient and secure clearing infrastructure.
Mike Giampapa, general partner of Galaxy Ventures, emphasized that stablecoins can become a ubiquitous form of payment only through a shared acceptance network, similar to what happens with payment cards.
This concept is the foundation of Ubyx’s model, which aims to create an integrated and standardized ecosystem.
Shan Aggarwal of Coinbase Ventures added that, just as the internet transformed global communication, stablecoins on public networks will revolutionize traditional payment systems.
The Ubyx platform thus represents a milestone for this change.
Tony McLaughlin, founder and CEO of Ubyx, highlighted how the platform enables a market structure where multiple stablecoin issuers, on numerous blockchains and currencies, can operate together within a single common network.
Impact and future prospects for stablecoin and traditional finance
The introduction of a standardized system for the redemption of stablecoin, like the one designed by Ubyx, could radically transform the financial landscape.
Allowing institutions to consider these financial assets as cash equivalents opens up new opportunities for the integration of stablecoin into payment processes and capital management.
Furthermore, the reduction of costs and the simplification of conversion flows bring stablecoins closer to mass adoption, helping to overcome the current fragmentation of the digital market.
Those who work in the fintech or financial sector should closely monitor the evolution of these solutions, which could mark a decisive turning point in the adoption of regulated digital assets and their integration with traditional financial systems.