Standard Economics has successfully raised $9 million in investment during a seed funding round to create an innovative payment application utilizing stablecoins. The main investor was the venture capital firm Paradigm, with Lightspeed and several private investors also participating in the round.
This is reported by Finway
Payment Application for the Digital Economy
The funds raised will be directed by the team towards developing a scalable and secure payment solution aimed at a wide range of users, including small businesses. The primary goal of the project is to provide a convenient and accessible way to conduct financial transactions using stablecoins. The company is confident that such digital assets can serve as the foundation for a stable digital economy.
Simplicity and Security for Users
Standard Economics prioritizes user experience, striving to make the application as intuitive as possible, even for those who have not previously dealt with cryptocurrencies. With the new funding, the team plans to accelerate product development and implement modern security technologies.
“The company believes that stablecoins can become the foundation of a stable digital economy.”
It is worth noting that recently, the Pieverse project, which is creating infrastructure for Web3 payments and compliance, also secured $7 million in a strategic funding round.