A16z crypto leads $10 million round in startup developing stablecoins’ missing layer
The Block
A16z crypto invested $10 million in The Better Money Company, aiming to build a clearinghouse for the growing stablecoin ecosystem.Summary
A16z crypto led a $10 million funding round for The Better Money Company, a startup focused on creating a “critical missing connectivity layer” for stablecoins. The company likens the current fragmented stablecoin market to the 19th-century U.S. banking system, where private banks issued their own banknotes before clearinghouses standardized the process. The Better Money Company intends to function as a clearinghouse, unifying the network as the number of stablecoins increases, improving scalability and reducing costs. Several companies, including Paxos, Bridge, and MetaMask, have expressed intent to join the clearinghouse. The startup was founded by former a16z investor Sam Broner.
(Source：The Block)