Y Combinator invests $500K in stablecoins.
YC has doubled down on an earlier public commitment to helping the adoption of stablecoins by revealing that they have funded Totalis – one of their latest batch members – directly via stablecoins.
The entire process was finalised in minutes, with 3 separate stablecoin transfers completed via USDC stablecoin. YC had sent 2 large balance transfers from their Coinbase wallet to Totalis, who is a user of Ramp’s recently announced stablecoin accounts.
Ensuring that funding is settled this fast allows participants to focus on more important day-to-day operations and other strategic tasks, as well as keep direct track of the movement of funds – especially important if located internationally.
Totalis is an onchain-native startup tackling the new sector of prediction markets, so it makes sense for the team to actively send and receive funds in stablecoins as that is how users will be able to trade via their platform.
Although they are the first participant of YC’s newly implemented policy, there is an expectation that non-crypto companies will soon also start to receive venture funding in stablecoins.
