Stablecoin payments startup Cyclops raises $8 million from Castle Island Ventures, F-Prime and Shift4
Stablecoin payments startup Cyclops secured $8 million in a strategic investment round led by key industry players.Summary
Cyclops, a startup focused on stablecoin payments, announced it has raised $8 million in a strategic investment round. Investors included Castle Island Ventures, F-Prime, and Shift4 Payments. The founders of Cyclops previously established The Giving Block, a crypto donation platform, which they sold to Shift4. Following the sale, they spent three years developing stablecoin and crypto solutions internally at Shift4. Cyclops aims to simplify the integration of stablecoin settlement, crypto payments, and digital asset capabilities for merchants, removing the need for them to build and maintain complex blockchain infrastructure. Investors noted the team's firsthand experience in overcoming the difficulties of building these products within a large organization.
(Source：The Block)