The Ubyx platform has secured $10 million in investments to develop a clearing infrastructure for stablecoins. The funding occurred during a seed round led by Galaxy Ventures, with participation from notable investors such as Coinbase Ventures, Founders Fund, VanEck, Mirana Ventures, LayerZero, Paxos, Boku, Payoneer, and Monerium.
This is reported by Business • Media
Partnerships with Key Issuers and Financial Institutions
Ubyx is developing a system that allows for the exchange of stablecoins for fiat currencies without losses or delays. The main idea is to create a unified network that connects stablecoin issuers and regulated financial institutions. In such a network, digital assets are redeemed at face value and deposited as cash equivalents.
Companies such as Paxos, Ripple, Agora, Transfero, Monerium, GMO Trust, BiLira, Juno, Brale, Minteo, Tokenised GBP, Avenia, Agant, AllUnity, and Eurodollar have already joined this network. Among the partners are also Paxos, Ripple, Transfero, GMO Trust, BiLira, and other well-known issuers.
Technical Infrastructure and Integration with Blockchains
The platform is actively integrating with a number of public blockchains, including Aptos, Arbitrum, Avalanche, Base, Canton, Concordium, Hedera, Polygon, Solana, Starknet, Stellar, Sui, XDC, XRP Ledger, and ZKsync. Technical support and infrastructure for Ubyx are provided by companies such as Axelar, BitGo, Chainalysis, Fireblocks, GK8, Copper, TRM Labs, Taurus, Zodia Custody, and other technology partners.
The launch of the Ubyx clearing platform is scheduled for the fourth quarter of 2025. In the future, the company aims to decentralize the management of the platform and expand the list of supported currencies.
“The platform unites issuers and regulated financial institutions into a single network where digital assets are redeemed at face value and deposited as cash equivalents,” the statement says.
It is worth noting that, according to U.S. Treasury Secretary Scott Bessen, the market for dollar-pegged stablecoins could exceed $2 trillion in the coming years.