Cyclops Raises $8 Million in Funding to Advance Stablecoin Payment Infrastructure

PANews reported on March 4th that Cyclops, a US-based stablecoin infrastructure startup, has raised $8 million in funding from investors including Castle Island Ventures, F-Prime, and payments company Shift4 Payments. The valuation was not disclosed. Cyclops provides stablecoin settlement technology to merchants in sectors such as airlines and hotels, as well as payment companies. It currently partners with helicopter travel company Blade and Blue Origin, merchants using Shift4, providing a "technology pipeline" for their 24/7 stablecoin settlements. Founded by Alex Wilson and two others, the company currently has approximately 20 employees and profits from transaction fees. It plans to further expand its partnerships with payment and card organizations such as Fiserv, Adyen, Global Payments, Visa, Mastercard, and American Express.