On July 15, Cyclops, a fintech startup based in Miami, announced it has successfully raised $20 million in a Series A funding round. This funding was led by Nava Ventures, with key contributions from Castle Island Ventures, Coinbase Ventures, Circle, Lasagna Ventures, and GPT Ventures.

Cyclops aims to revolutionize payment processing by providing legacy payment companies with a streamlined platform that utilizes stablecoin settlements. Traditional banking systems are often limited, with services unavailable during weekends and holidays, making it difficult for payment firms to operate efficiently. Cyclops offers an integrated platform that includes stablecoin transactions, pay-ins, payouts, and treasury management via APIs, eliminating the need for companies to develop these capabilities independently.

The startup has already processed over $2 billion in transactions and has support for more than 400 digital assets across 150 countries, backed by over 100 global licenses. Notable clients include Shift4 Payments, which serves over 300,000 merchants, and Mastercard, underscoring the platform's credibility and potential.

This latest funding round follows an $8 million seed round completed in March 2026, bringing Cyclops's total fundraising to $28 million in just four months. The involvement of Circle, a prominent issuer of USDC, signifies a strategic endorsement of Cyclops's mission to facilitate stablecoin settlements.

Founded by Alex Wilson, Pat Duffy, and David Johnson, Cyclops is not new to the crypto infrastructure scene. The founders previously developed The Giving Block, a platform for nonprofit cryptocurrency donations, which was sold to Shift4 Payments. Their experience positions them well to address the challenges of building crypto infrastructure.

The timing for Cyclops's launch is strategic. The stablecoin market has increased by 137% since 2024, with a market cap nearing $310 billion. Following the enactment of the GENIUS Act in July 2025, which established a federal framework for US stablecoin issuers, payment companies are now recognizing stablecoins as essential for competitiveness. Cyclops aims to ease the burden of creating crypto infrastructure, allowing payment firms to concentrate on their core operations.

This material is for informational purposes only and is not financial advice.