Ubyx, The Stablecoin Clearing System Enabling Bank & Fintech Off-Ramps, Announces $10M Seed Led by Galaxy Ventures - Thailand PR News - [Banking](https://thailandbusinessnews.net/category/banking/) - [Companies](https://thailandbusinessnews.net/category/companies/) - [Economy](https://thailandbusinessnews.net/category/economy/) - [Press Releases](https://thailandbusinessnews.net/category/press-release/) - [PR Newswire](https://thailandbusinessnews.net/pr-newswire-updates/) - [Tech](https://thailandbusinessnews.net/category/tech/) - [Tourism](https://thailandbusinessnews.net/category/tourism/) - [Banking](https://thailandbusinessnews.net/category/banking/) - [Press Release](https://thailandbusinessnews.net/category/press-release/) # Ubyx, The Stablecoin Clearing System Enabling Bank & Fintech Off-Ramps, Announces $10M Seed Led by Galaxy Ventures ##### Up next ![Bybit Joins Nansen Points Program as Its First Exchange Partner](https://i0.wp.com/r2.thailandbusinessnews.net/2025/06/Logo.jpg?resize=200%2C110&ssl=1 "Bybit Joins Nansen Points Program as Its First Exchange Partner") [](https://thailandbusinessnews.net/press-release/bybit-joins-nansen-points-program-as-its-first-exchange-partner/) ###### [Bybit Joins Nansen Points Program as Its First Exchange Partner](https://thailandbusinessnews.net/press-release/bybit-joins-nansen-points-program-as-its-first-exchange-partner/) Published on 17 June 2025 ##### Author ##### [ CISION PRNewswire ](https://thailandbusinessnews.net/author/cision/) ##### Tags - [PRNewswire](https://thailandbusinessnews.net/tag/prnewswire/) Ubyx is founded by 30-Year Payments Veteran to Build Global Stablecoin Acceptance Network NEW YORK, June 17, 2025 /PRNewswire/ — [Ubyx](https://c212.net/c/link/?t=0&l=en&o=4450905-1&h=749359508&u=https%3A%2F%2Fwww.ubyx.xyz%2F&a=Ubyx), the stablecoin clearing system that enables regulated banks and fintechs to redeem stablecoins at face value, today announced its $10M seed round led by Galaxy Ventures with participation from Coinbase Ventures, Founders Fund, VanEck, Mirana Ventures, LayerZero, Paxos, Boku, Payoneer, and Monerium. Ubyx is designed to deliver stablecoin ubiquity, meaning global acceptance of many stablecoins. Participating issuers include: Paxos, Ripple, Agora, Transfero, Monerium, GMO Trust, BiLira, Juno (a Bitso company), Brale, Minteo, Tokenised GBP, Avenia, Agant, AllUnity, and Eurodollar. The stablecoin market structure today has barriers to mass adoption. The paradigm of on/off-ramping into/out of the crypto world is a bottleneck for users. Each stablecoin issuer has to build their own distribution network, at great cost. Corporates and banks cannot currently hold stablecoins on their balance sheets as cash equivalents. Ubyx addresses these issues and expands the market by providing a clearing system for stablecoins, connecting multiple issuers with multiple receiving institutions, allowing redemption of stablecoins for fiat at par value into existing bank and fintech accounts. By solving market fragmentation, standardising redemption to support cash-equivalent accounting treatment, and aligning economic incentives, Ubyx will usher in the stablecoin epoch, as described in the recently published [whitepaper](https://c212.net/c/link/?t=0&l=en&o=4450905-1&h=1532701963&u=https%3A%2F%2Fwww.ubyx.xyz%2Fwhitepaper&a=whitepaper). Ubyx Key Features: Global acceptance: Issuers access a mutual redemption network with a common rulebook. Cash equivalence and singleness of money: Stablecoins can be deposited at par value. Promotes regulated off-ramps: Redemption through regulated channels with AML, KYC, fraud, and sanctions screening. Extends trusted relationships: Banks and fintechs establish a foothold in digital assets. "Stablecoins become ubiquitous when there is a shared acceptance network, just like cards. Traditional banks and fintechs should provide wallets to accept a wide range of regulated stablecoins on many public-permissionless blockchains." said Mike Giampapa, General Partner of Galaxy Ventures. Shan Aggarwal, Vice President of Corporate and Business Development at Coinbase Ventures said, "Just like the internet changed how we communicate, stablecoins on public networks will change how we pay. Ubyx is a critical piece of the stack that will help make stablecoin acceptance universal." Bridget Harris, Associate at Founders Fund said, "As regulation solidifies and stablecoins proliferate, a clearing system is needed to make all of these assets interoperable and fungible. We’re proud to be backing Ubyx as they build the infrastructure to make stablecoins accepted globally." Ubyx Founder and CEO, Tony McLaughlin said, "Ubyx represents the coming of age of stablecoins as the industry self-organises to deliver stablecoin ubiquity. Ubyx enables a pluralistic market structure with multiple issuers, multiple blockchains and multiple currencies in a global, interoperable network. The future of payments is stablecoin native." Ubyx facilitates widespread TradFi adoption of public blockchain infrastructure, and will support multiple chains including: Aptos, Arbitrum, Avalanche, Base, Canton, Concordium, Hedera, Polygon, Solana, Starknet, Stellar, Sui, XDC, XRP Ledger, and ZKsync. Scaling partners will provide TradFi players with wallets, blockchain analytics and other technology enablers. Launch partners include: Axelar, BitGo, Chainalysis, Chavanette Advisors, Copper, Dfns, Digital Asset, Fireblocks, GK8 by Galaxy, IntellectEU, Kaleido, LayerZero, Silence Labs, Taurus, TRM Labs, Utila, Zodia Custody, and Zuehlke. Live operation is planned for Q4 2025, with currency expansion and progressive decentralization of governance and technology to follow. The Ubyx Association is open to industry participants, regulators, and other stakeholders to form stablecoin strategies, connect with partners, and prepare for the stablecoin epoch. About UbyxUbyx was founded to facilitate stablecoin ubiquity, connecting multiple issuers with multiple receiving institutions in a common settlement environment that allows redemption of stablecoins at par value and supports the singleness of money. For more information, please visit [https://www.ubyx.xyz](https://c212.net/c/link/?t=0&l=en&o=4450905-1&h=3692488389&u=https%3A%2F%2Fwww.ubyx.xyz%2F&a=https%3A%2F%2Fwww.ubyx.xyz) For press enquiries, please contact [Source link ](https://www.prnasia.com/story/archive/4712144_AE12144_0?rand=89749) ``` This content was prepared by our news partner, Cision PR Newswire. 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