BlockBeats News, March 26 — Stablecoin startup Payy announced the completion of a $6 million seed round funding led by FirstMark Capital, with participation from Robot Ventures and DBA Crypto.
Payy, formerly known as Polybase, rebranded in 2023 to focus on stablecoin payments, primarily utilizing zero-knowledge proofs to ensure on-chain transaction privacy. Its products include a self-custody wallet and Visa-supported payment cards, and it is developing the Payy Network, a privacy-focused payment network based on Ethereum Layer 2.
Currently, Payy covers 120 countries, has over 100,000 users, and an annualized transaction volume of approximately $130 million. The company plans to focus on expanding enterprise clients and promoting stablecoin adoption in financial institutions and payment scenarios.
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