Ubyx

Ubyx raised $10M to standardize stablecoin redemption by Q4 2025.
Platform connects issuers and banks for fiat conversion at par.Supports blockchains like Solana, Arbitrum, and XRP Ledger.Partnerships include Paxos, Ripple, BitGo, and Chainalysis.Aligns with rising stablecoin volumes and U.S. regulatory progress.
Ubyx Raises $10M to Streamline Stablecoin Conversion
Ubyx, a stablecoin infrastructure startup, secured $10 million in seed funding to standardize stablecoin redemption at face value. The round, led by Galaxy Ventures, included Coinbase Ventures, Founders Fund, VanEck, and Paxos. The platform aims to launch in Q4 2025, allowing regulated banks and fintechs to convert stablecoins directly to fiat at par value.
The service seeks to reduce friction in stablecoin transactions and boost adoption. Ubyx’s clearing system connects multiple issuers to receiving institutions, enabling seamless redemption into existing bank and fintech accounts. This addresses market fragmentation and supports cash-equivalent accounting treatment.
“Stablecoins need a unified network to become mainstream,” said Mike Giampapa, general partner at Galaxy Ventures. The platform draws parallels to card networks like Visa, aiming for global acceptance of stablecoins.
Tackling Stablecoin Market Challenges
The stablecoin market faces barriers to widespread use. Each issuer builds its own distribution network, driving up costs and limiting interoperability. Institutions cannot currently treat stablecoins as cash equivalents on balance sheets due to inconsistent redemption processes.
Ubyx’s platform counters these issues by creating a shared clearing system. It supports multiple blockchains, including Solana, Arbitrum, Avalanche, and XRP Ledger. Partnerships with Paxos, Ripple, and infrastructure providers like BitGo and Chainalysis strengthen its ecosystem.
“Stablecoins on public networks will transform payments,” said Shan Aggarwal, vice president at Coinbase Ventures. Ubyx’s network allows diverse issuers and currencies to operate cohesively, fostering a pluralistic market structure.
Stablecoin transaction volumes have surged, processing 19.4 times more value than PayPal over the past 12 months, per data from a16z Crypto. Ubyx’s timing aligns with growing demand for efficient digital currency solutions.
Strategic Partnerships and Future Plans
Ubyx has onboarded issuers like Paxos, Ripple, Agora, and Monerium. Its infrastructure partners include BitGo, Copper, and Fireblocks, ensuring robust custody and analytics. The platform will also support tokenized deposits and central bank digital currencies in the future.
Tony McLaughlin, Ubyx’s founder and CEO, emphasized the platform’s role in advancing stablecoin adoption. “Our network enables issuers across blockchains to deliver seamless redemption, paving the way for a stablecoin-driven payment future,” he said.
The funding will fuel partnership expansion and platform development. Ubyx plans to launch with compliance features like anti-money laundering and know-your-customer checks, ensuring regulatory alignment.
The announcement coincides with U.S. legislative progress on stablecoins. The GENIUS Act, set for a Senate vote, aims to establish a national framework for stablecoin oversight, potentially boosting market confidence.
Ubyx’s efforts align with industry trends. Major firms like Circle have gone public, signaling a maturing stablecoin sector. Experts predict more issuers, including tech giants, will enter the space, per Bloomberg.
The platform’s interoperable network could position it as a key player in digital finance. By simplifying redemption, Ubyx aims to make stablecoins as accessible as traditional payment methods.
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