Stablecoin startup Ubyx completes $10 million seed round

Ubyx, a stablecoin startup founded by former Citigroup executive Tony McLaughlin, has completed a $10 million seed round of financing led by Galaxy Ventures, with participation from Founders Fund, Coinbase Ventures, Paxos, and VanEck. The company is dedicated to building a clearing system that connects stablecoin issuers with banks and financial technology companies to address interoperability issues in payment scenarios.