Ubyx, the Stablecoin clearing platform, has raised $10 million in a seed funding round led by Galaxy Ventures. Other investors include Coinbase Ventures, Founders Fund, Vaneck, Mirana Ventures, Layerzero, Paxos, Boku, Payoneer and Monerium.
Ubyx offers a regulated system that allows banks and fintech companies to redeem multiple types of stupid stubcoins at face value.
The system is designed to connect the Stablecoin issuer to the receiver and support Stablecoin Redemption Fiat redemption without price fluctuations. Participating Stablecoin publishers include Paxos, Ripple, Agora, Transfero, Monerium, GMO Trust, Bilira, Juno (Bitso), Brale, Minteo, Tokenised GBP, Avenia, Agant, Agrunity, and Eurodollar.
Ubyx supports multiple blockchain networks such as Aptos, Arbitrum, Avalanche, Base, Canton, Concordium, Hedera, Polygon, Solana, Starknet, Stellar, Sui, XDC, XRP Ledger, and Zksync. This broad compatibility is intended to support stable use across the public blockchain infrastructure of the traditional finance (TRADFI) sector.
The platform works with many technology providers, including Axelar, Bitgo, Chainalysis, Copper, Fireblocks, Glaxy, Intellecteu, Kaleido, TRM Labs, and Zodia Custody. These partners provide tools such as secure wallets and blockchain analytics to help financial institutions adopt the system.
UBYX is expected to open in the fourth quarter of 2025. The company plans to gradually decentralize its governance and technology. The UBYX Association is open to financial institutions, regulators and industry stakeholders who want to collaborate on Stablecoin-related strategies and infrastructure.
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