Cyclops Secures $20 Million to Revolutionize Payment Settlements with Stablecoins

Washington DC, United States Jul 15, 2026 ALN: The advent of stablecoins has made it possible to settle global transactions instantly, but many payment providers have yet to catch up, relying instead on legacy banking infrastructure. The upshot is many merchants and consumers must rely on wire transfers that don’t operate on weekends, or outside banking hours. Miami-based startup Cyclops has plans to change all this and, on Wednesday, announced a $20 million Series A funding round to ensure that more payment providers can start to move money at internet speed.

Cyclops sells an all-in-one infrastructure platform to payments companies, bundling crypto and stablecoin services so they can offer faster settlement and cross-border transactions without building that tooling themselves. This service is particularly valuable in today's fast-paced economy, where businesses are often hindered by the slow processing times associated with traditional banking methods. The ability to process payments in real-time can significantly enhance cash flow and operational efficiency for businesses across various sectors.

“There’s tons of businesses and consumers that benefit from that… they want to put that cash to work as quickly as possible,” said Cyclops co-CEO Alex Wilson, who launched the company along with cofounders Pat Duffy and David Johnson. This emphasis on speed and efficiency is crucial, especially in an increasingly digital marketplace where the expectation for immediate transactions has become the norm.

Nava Ventures led the round, which also included investments from Castle Island Ventures, Coinbase Ventures, Circle, Lasagna Ventures, and GPT Ventures. Cyclops declined to specify at what valuation the startup raised its most recent stash of capital. The new funding follows an $8 million seed round raised in March, highlighting a strong interest from investors in the potential of stablecoin technology and its applications in payment processing.

Charity Origins

Cyclops’ origin story dates back to 2018, when Wilson and Duffy cofounded their first company called the Giving Block. Like Cyclops, it provided crypto and stablecoin services, but specialized in the charity sector. This unique focus allowed them to gain valuable insights into the challenges and opportunities presented by digital assets in fundraising. Since digital assets didn’t have the same popularity they do today, Wilson remembered how challenging it was to convince charities to fundraise with crypto donations. However, through persistence and education, they were able to persuade notable clients like Save the Children and St. Jude to give crypto a try, paving the way for broader acceptance of cryptocurrency in charitable giving.

Eventually, the cofounders sold the Giving Block to payments company Shift4, where Wilson became the head of crypto and stablecoins. This role provided him with a unique vantage point to observe the integration of stablecoin settlement into traditional payment systems. He faced the daunting task of bringing stablecoin settlement to the company’s more than 300,000 merchants. In building out the different solutions needed for each customer, Wilson and his cofounders realized that it was time to build a one-stop-shop focused solely on payments, leading to the inception of Cyclops.

In an already cluttered marketplace, Nava Ventures partner Kevin Chenault is convinced that this experience separates Cyclops from its competitors. “They’ve lived and breathed the problem in payments and understand the gaps where stablecoin technology and infrastructure can really… innovate the way in which money is moved,” he said. This deep understanding of the payment landscape is crucial as companies like Cyclops seek to navigate the complexities of integrating new technologies into existing systems.

Besides Miami, Cyclops also has an office in Vienna, Austria. The strategic choice to establish a presence in Europe reflects the startup's ambition to tap into international markets and follow consumer demand globally. Licensing processes have begun in the United States and Europe, which is a significant step toward expanding their operational footprint and ensuring compliance with varying regulatory frameworks. Shift4 Payments and Mastercard are among Cyclops’ current clients, indicating a growing trust in their capabilities within the industry.

Stablecoins have become one of crypto’s most transcendental inventions. These digital tokens, which are pegged to fiat currencies and emitted by companies rather than a central bank, have proliferated globally, with behemoths like Tether’s USDT and Circle’s USDC dominating the marketplace. The ability of stablecoins to maintain a stable value while providing the benefits of cryptocurrency has led to their increased adoption across various sectors, including e-commerce, remittances, and even traditional finance. Since 2024, their market capitalization has grown 137%, reaching nearly $310 billion, according to data from DefiLlama. This remarkable growth underscores the rising demand for stablecoins as a reliable medium of exchange.

Last July, President Donald Trump signed the GENIUS Act into law, which created a regulatory framework for U.S. dollar-backed stablecoins. This legislative move is significant as it provides clarity and guidance for companies operating in the stablecoin space, fostering an environment that encourages innovation while also protecting consumers and the financial system. The establishment of regulatory frameworks is crucial in legitimizing the use of stablecoins and encouraging more businesses to adopt this technology.

Against this backdrop, GPT Ventures general partner Javier Pérez, who spent nearly 25 years at Mastercard, sees stablecoins as the next natural step in payments. “You can transfer money around quasi-instantly and the more [a] stablecoin becomes popular, the faster it gets, the cheaper it gets, [and] the more ubiquitous it gets,” he said. This perspective highlights the transformative potential of stablecoins in reshaping how we think about money transfer and payment processing. As the technology matures and becomes more integrated into everyday transactions, it could lead to significant shifts in consumer behavior and expectations regarding payment speed and efficiency.

In conclusion, Cyclops is positioning itself at the forefront of a rapidly evolving payments landscape, leveraging the power of stablecoins to offer solutions that meet the demands of modern consumers and businesses. With significant funding and a clear vision, the company aims to bridge the gap between traditional financial systems and the innovative potential of blockchain technology. As the adoption of stablecoins continues to rise, it will be interesting to observe how companies like Cyclops will influence the future of payment settlements and the broader financial ecosystem.