Ubyx raises $10M to construct international stablecoin network as senate advances GENIUS Act
Ubyx Inc., a stablecoin facilities start-up led by former Citigroup exec, has protected $10 million in seed financing from major backers including Galaxy Ventures and Peter Thiel’s Founders Fund. Ubyx intends to establish a combined approval network, comparable to how Visa or Mastercard operate for card payments, allowing even small banks to issue and accept stablecoins without needing to develop infrastructure.