Y Combinator settles first all-stablecoin funding in USDC on Solana

Y Combinator, a prominent startup accelerator, has completed its first funding round entirely in stablecoins, specifically $500,000 in USDC on the Solana blockchain, for the prediction markets startup Totalis. This investment, facilitated through the financial operations platform Ramp, was executed in three on-chain transactions. Totalis plans to leverage Ramp for managing both stablecoin and fiat transactions, including paying for its credit card. Y Combinator's president and CEO, Garry Tan, confirmed that the accelerator is open to investing in any of its funded startups using stablecoins, not just crypto-focused ones, highlighting the efficiency and lower costs of stablecoin transfers compared to traditional methods like ACH or wire transfers. This move signifies Y Combinator's commitment to crypto-native operations and its ongoing interest in funding startups in areas like stablecoins and on-chain capital formation.

(Source：The Block)