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Ubyx, a new stablecoin clearing platform that aims to jumpstart stablecoin adoption by enabling redemption at face value, has closed a $10 million seed funding round backed by several major crypto investors.
The funding round was led by Galaxy Ventures, with participation from Coinbase Ventures, Founders Fund, VanEck, Paxos and others, according to a Tuesday announcement. The startup plans to launch its platform in the fourth quarter of 2025.
The service will allow regulated banks and fintechs to redeem stablecoins directly for fiat at par value,…
