Stable Sea, a stablecoin liquidity and orchestration company facilitating stablecoin offramping to global markets, announced a $3.5 million funding round led by Kindred Ventures with participation from Ludlow Ventures, DFS Lab, The Venture Dept. and The Fintech Fund.
This funding will further Stable Sea’s mission of providing efficient, cost-effective, and compliant stablecoin offramping solutions.
Last year, the annualized transaction value for the stablecoin industry hit over $10 trillion, highlighting its significant role in the global financial system. But as regulations become clearer, stablecoins are poised to enable new and more efficient use cases for international payments, remittances, and institutional settlements. However, the complexity and cost of converting stablecoins to local fiat currency still remain a challenge for companies and a necessity for end users.
The company was created to address these problems and help companies access deep pools of digital asset liquidity to seamlessly offramp stablecoins. And the company was founded by a team of seasoned colleagues with extensive experience in fintech, crypto and payments infrastructure.
The team’s understanding of this space and technology, coupled with their firsthand experience of similar challenges, led them to create a solution that provides companies with the necessary dashboard tooling, orchestration, and access to compliant liquidity to enable seamless stablecoin conversion to local fiat.
KEY QUOTES:
“Stablecoins speed up global treasury movements for institutions and improve cross-border payment experiences for FinTechs. Yet folks still need local fiat for day-to-day business, product, or operational needs. While the technology exists piecemeal, the infrastructure linking digital and traditional financial systems is still evolving and access to liquidity remains a challenge. At Stable Sea, we equip Fortune 500 companies, FinTechs, and startups building in stablecoins with the tools to off-ramp programmatically worldwide — bridging both financial systems and unlocking access to deep, compliant liquidity.”
– Tanner Taddeo, CEO of StableSea
“We’re proud to invest in Stable Sea because stablecoins can’t go mainstream without seamless, reliable liquidity. Moving between stablecoins and local currencies is still too costly and clunky, slowing down adoption. Stable Sea is changing that by making the process frictionless, which has the potential to open up entirely new use cases. We’re excited to back their vision and see the impact they’ll have.”
– Kanyi Maqubela, Managing Partner at Kindred Ventures
