Ubyx provides a clearing system that enables the seamless redemption of stablecoins into fiat currency across various blockchains and issuers. Its platform facilitates the acceptance and redemption of stablecoins into existing bank and fintech accounts, integrating them into the regulated financial system.
Funding
$10M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The current stablecoin ecosystem is fragmented, with limited interoperability between different issuers, blockchains, and fiat payment rails. This fragmentation hinders the widespread adoption of stablecoins as general-purpose digital cash, creating friction for users and businesses seeking to leverage them for everyday transactions.
Solution
Ubyx operates a clearing system that transforms stablecoins into cash equivalents, enabling seamless redemption into existing bank and fintech accounts. The platform facilitates the acceptance and redemption of stablecoins from multiple issuers and currencies across various blockchains through a standardized rulebook and network membership. This infrastructure supports peer-to-peer payments and integrates stablecoins into the regulated financial system by ensuring issuers maintain pre-funded reserves and adhere to compliance checks at multiple levels. Ubyx aims to establish stablecoins as ubiquitous, general-purpose methods of digital payment by aligning incentives across issuers, users, financial institutions, and regulators.
Target Audience
Ubyx targets financial institutions (banks and fintechs), stablecoin issuers, businesses, crypto users, exchanges, and regulators seeking to integrate stablecoins into mainstream financial systems.
Features
- Multi-issuer stablecoin acceptance and redemption across supported blockchains.
- Standardized APIs for network membership and integration with financial institutions.
- Pre-funded reserve mechanism for stablecoin issuers to guarantee redemption value.
- Multi-layered compliance checks at receiving institutions, settlement banks, and issuer levels.
- Hosted digital wallets provided by financial institutions to support various stablecoins and blockchains.
- Global interoperability through multi-currency and multi-jurisdictional support.
- Ubyx rulebook and association framework for network governance and participant agreements.