 | Ubyx  |
Ubyx is a clearing system that allows to deposit stablecoins from many issuers and multiple currencies into existing bank and fintech.
Seed Round: $10M
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EthereumWhat is Ubyx
Ubyx is a clearing system designed for tokenized money, including regulated stablecoins and tokenized bank deposits. Its primary goal is to enable ubiquitous acceptance and redemption of tokenized money at par value through regulated financial institutions. The project solves the "many-to-many" problem by connecting multiple issuers, banks, fintechs, and blockchains in a single network.
Participants deposit tokenized assets into the Ubyx system for collection and settlement, similar to traditional cheque clearing, rather than selling on volatile exchanges. This allows users to redeem stablecoins instantly and reliably into local fiat currency via participating banks or fintechs.
Ubyx supports multiple blockchains and operates under a shared rulebook that ensures compliance, standards, and smooth interoperability. The project aims to transform stablecoins into true cash equivalents, supporting the "singleness of money" and broader adoption in traditional finance.
Ubyx Roadmap
- Release of the Ubyx Whitepaper, outlining the protocol’s design and objectives.
- Formation of legal entities to enable contracts to be put in place.
- Launch of the Ubyx Association, acting as a bridge between stablecoin issuers, nancial institutions, and regulators.
- Onboarding of Ubyx scaling partners to provide infrastructure for stablecoin processing.
- Integration of a cash settlement bank and a regulated custodian to facilitate settlements (may be a single institution).
- Deployment of the core Ubyx protocol, including the rulebook and technical infrastructure.
- Live demonstration of the system with at least: 2 stablecoin issuers, 2 receiving institutions, 2 blockchains. Operating initially in USD. This is a major milestone as it is the minimum model that improves upon bilateral arrangements. Adding participants from that point increases the value of the network quadratically with each new member.
- Creation of the Ubyx Foundation to drive long-term ecosystem growth.
- Establishment of the Ubyx DAO, initiating progressive decentralization.
- Strategic allocation of Ubyx tokens to incentivize early adoption and network eects.
- Marketing launch of the Ubyx Trust Mark, establishing brand recognition for global stablecoin acceptance.
- Expansion of the network, onboarding:
- More stablecoin issuers
- Additional receiving institutions
- More blockchains for cross-chain interoperability.
- Geographic and currency expansion, integrating locally regulated entities and regional settlement banks to support multiple at currencies.
- Launch of the Ubyx Lending Facility, providing initial small-scale liquidity support to stablecoin issuers.
- Introduction of issuer- and blockchain-independent data transport, supporting B2B stablecoin transactions.
- Progressive decentralization of governance, transitioning decision-making to the Ubyx DAO.
- Gradual decentralization of the Ubyx technology platform
- Stablecoins achieve full accounting recognition as cash equivalents under IAS7, enabling mass corporate adoption.
- General-purpose payment acceptance, with stablecoins seamlessly used for consumer and business transactions.
- Complete decentralization of Ubyx, with the rulebook, governance, and technical platform to a degree consistent with the Ubyx mission, regulator and stakeholder needs.
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