A Citi veteran just launched the 𝗩𝗶𝘀𝗮 𝗼𝗳 𝘀𝘁𝗮𝗯𝗹𝗲𝗰𝗼𝗶𝗻𝘀: Peter Thiel, VanEck ,Coinbase , and Galaxy backed it.
A lot of people ask me what it’s going to take for stablecoins to really go mainstream.
This just might be one of the missing pieces.
Today, Peter Thiel’s Founders Fund and Galaxy backed a new startup called 𝘂𝗯𝘆𝘅.
The founder? A former Citi exec who spent 20 years inside the banking system.
A few weeks ago, Tony, told me quietly at our NYC stablecoin event what he was building.
Tony’s thesis: stablecoins don’t scale until they can plug into 𝗮 𝘀𝗶𝗻𝗴𝗹𝗲 𝗴𝗹𝗼𝗯𝗮𝗹 𝗮𝗰𝗰𝗲𝗽𝘁𝗮𝗻𝗰𝗲 𝗻𝗲𝘁𝘄𝗼𝗿𝗸.
What Ubyx is building isn’t sexy. But it’s critical.
🧩 Here’s the big idea:
Ubyx is building a 𝗰𝗹𝗲𝗮𝗿𝗶𝗻𝗴 𝗻𝗲𝘁𝘄𝗼𝗿𝗸 𝗳𝗼𝗿 𝘀𝘁𝗮𝗯𝗹𝗲𝗰𝗼𝗶𝗻𝘀.
Like Visa or Mastercard , but for USDC, EURS, and others.
Why it matters: 🤯
Because right now, every stablecoin lives in its own silo. Different chains. Different rules.
No interoperability. No standards. No real guarantees.
That’s a huge problem if you’re a bank, fintech, or merchant.
Ubyx changes that.
What this enables:
Banks can accept any stablecoin in the network
Merchants can get paid in one token and settle in another
Issuers agree to mutual redemption and pre-funded collateral
Compliance checks are standardized across issuers
This could be the foundation layer that finally brings stablecoins into everyday banking.
Launching by year-end across Solana, Base, XRP Ledger, and Canton.
Early partners include Paxos , Ripple , and AllUnity.