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Stablecoin Payment Company Standard Economics Completes $9 Million Seed Round, Led by Paradigm
BlockBeats News, October 28th, according to Fortune magazine, stablecoin payment startup Standard Economics announced the completion of a $9 million seed round financing, led by crypto venture capital firm Paradigm, with participation from Lightspeed and strategic angel investors.
It is reported that the startup plans to use this funding to develop its application, aimed at creating an "all-in-one platform" that allows global users to send cross-border payments or remittances, while obtaining USD through stablecoins. Co-founder and CEO Evan Jones declined to disclose the company's valuation. The company currently has six employees and has not generated revenue.
Standard Economics' first product, the Uno application, launched in Mexico on Tuesday, supporting iOS and Android. The app is designed to allow users to freely use a full set of banking tools, including domestic payments and remittances to other countries. After the Mexico launch, the company plans to roll out Uno to Argentina, the Philippines, and other countries in Latin America and Asia.
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