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500 Startups Backs $500k Seed Round For Stablecoin Project

by coindesk.com posted 11months ago 53 views
Blockchain startup Stably has garnered $500,000 in seed funding to launch its stablecoin. : Blockchain startup Stably has raised $500,000 in a seed funding round for its "stablecoin" project. Led by venture capital firm Beenext and accelerator 500 Startups, an early investor in bitcoin startups, the funds will contribute to Stably's efforts to launch a fiat currency-backed stablecoin with "organic price stability and high reserve transparency." Angel investors - drawn from both Canada and the U.S. - who backed the round include Raaid Hossain, Jeffrey Roh, Tony Chen and Randy Hana.