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Stock impact report

Exclusive: Cyclops raises $8 million to build stablecoin infrastructure for payments companies [Fortune]

Shift4 Payments, Inc. Class A (FOUR) 
Company Research Source: Fortune
That's why many big firms—airlines, hotels, stadiums, restaurant chains and others—are turning to stablecoins, which are built on blockchain technology and allow for instant, around-the-clock settlement. In response, startups are emerging to help the firms navigate this new landscape—including Cyclops, which aims to serve as an infrastructure layer to help expedite stablecoin adoption. Recommended Video On Wednesday, Cyclops announced that it raised $8 million at an undisclosed valuation from Castle Island Ventures, F-Prime and Shift4 Payments. “Our vision and our goal is to be that go-to platform that payments companies think of when they need to build different stablecoin solutions,” said co-CEO Alex Wilson, who launched Cyclops along with co-founders Pat Duffy and David Johnson. Blade, the New York-based company where customers can use a helicopter to get to the airport, is an example of a firm that uses Cyclops. Wilson's startup provides the stablecoin infrastructure for i Show less Read more
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