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Solana payment processor raises $15 million by promising instant payments
The product, called Zebec Pay, is a tax-compliant on-chain payroll processor that pays employees in seconds via USDC or other stablecoins. Within months of launch, the protocol has built over 250 projects on the blockchain. A Solana crypto payment processor closed a $15 million venture round as demand for the proof-of-stake protocol continues following its explosive growth last year. Zebec's Series A round was led by Distributed Global and Solana Ventures. The company has not published its latest review. Other investors include Alameda Research, Circle, Coinbase, GoldenTree Asset Management and Lightspeed Venture Partners. The platform enables continuous…
Solana payment processor raises $15 million by promising instant payments
- Das Produkt mit dem Namen Zebec Pay ist ein steuerkonformer On-Chain-Lohnabrechnungsprozessor, der Mitarbeiter innerhalb von Sekunden über USDC oder andere Stablecoins bezahlt
- Innerhalb weniger Monate nach dem Start hat das Protokoll über 250 Projekte auf der Blockchain aufgebaut
A Solana crypto payment processor closed a $15 million venture round as demand for the proof-of-stake protocol continues following its explosive growth last year.
Zebec's Series A round was led by Distributed Global and Solana Ventures. The company has not published its latest review.
Other investors include Alameda Research, Circle, Coinbase, GoldenTree Asset Management and Lightspeed Venture Partners.
The platform enables real-time continuous settlements and can be used to send and receive money for investments, payments and subscriptions. The product, called Zebec Pay, is a tax-compliant on-chain payroll processor that pays employees in seconds via USDC or other stablecoins.
Support for USDC “introduces a new generation of workers to the digital asset economy,” Circle Chief Financial Officer Jeremy Fox-Green told Blockworks.
“For crypto-curious employees, providing an option to allocate a portion of their paycheck in crypto is an easy way to get started without having to transfer funds from a traditional banking system,” Fox-Green said.
Zebec launched in November 2021 and has raised a total of $21 million and plans to raise additional funding “soon,” founder Sam Thapaliya told Blockworks. “Our goal is growth and rapid growth.”
The protocol now supports more than 250 projects. Zebec also plans to launch a debit card that supports fiat-to-crypto conversion - a major force in driving mainstream crypto adoption in Thapaliya's eyes.
The protocol is focused on scaling partnerships with products focused on a range of crypto products, including fractional non-fungible tokens (NFTs), yields and options, he said.
“People are doubling down on this idea of continuous money, and this is just the beginning,” Thapaliya said.
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The post Solana Payment Processor Raises $15M on Promise of Instant Settlements is not financial advice.