NewsNovo
Stablecoins have been circling the payments industry for years without becoming its actual infrastructure.
Cyclops, a Miami-based startup, raised a $20M Series A led by Nava Ventures to make the case they can, drawing in Castle Island Ventures, Coinbase Ventures, Circle, and Lasagna Ventures as participating investors.
The cap table as thesis The composition of the round tells the story before Cyclops has to.
Circle, the issuer of USDC, and Coinbase Ventures both have direct commercial reasons to want stablecoin rails embedded in the broader payments system.
Keep reading