Ubyx Secures $10M for Innovative Stablecoin Platform

- Ubyx secures $10 million for stablecoin clearing system - Galaxy Ventures led the funding, with Coinbase Ventures and others participating. On June 17, 2025, CoinDesk reported that Ubyx, a startup focused on stablecoin standardization, raised $10 million in seed funding. This funding round was led by Galaxy Ventures, with participation from other prominent investors such as Coinbase Ventures, Founders Fund, VanEck, and Paxos. Ubyx plans to utilize these funds to expand its operations and enhance development efforts, with the company aiming to launch its platform in the fourth quarter of 2025. The anticipated platform will enable regulated banks and fintech companies to redeem stablecoins directly for fiat currency at par value. This service aims to address market fragmentation and will also facilitate broader stablecoin adoption by reducing transaction friction. Ubyx's platform will support multiple blockchains, and the company is also establishing strategic partnerships with key industry players, including stablecoin issuers such as Paxos and Ripple, and infrastructure providers like BitGo and Chainalysis. As of June 17, 15:17 UTC, USD Coin (USDC) is trading at $1, and its 24-hour trading volume shows a -0.028% change. Meanwhile, XRP is trading at $2.187, reflecting a -4.292% change according to the latest market data.