Standard Economics Secures $9M in Seed Funding for Uno App
- Standard Economics secures $9 million for Uno app expansion.
- Funds support scaling in Latin America, Asia.
- No new tokens; stablecoin usage likely rises regionally.
Standard Economics, a stablecoin payment company, secured a $9 million seed round led by Paradigm to expand its Uno app, focusing on remittances in unbanked regions like Mexico and the Philippines.
The funding boost signifies growing confidence in stablecoin remittances, potentially spurring adoption in regions with limited traditional banking, and supporting institutional interests in cryptocurrency infrastructure.
Standard Economics has completed a $9 million seed round led by Paradigm. The initiative targets scaling its Uno app for stablecoin-based remittances, focusing on underserved markets in Mexico, Argentina, and the Philippines.
Founded by former SpaceX and X employees, Standard Economics aims to revolutionize cross-border payments. The investment is set to scale operations across key regions, enhancing remittance accessibility.
The fundraising is anticipated to expand the reach of stablecoin remittances, particularly in regions with high unbanked populations. USDC and USDT adoption is likely to increase in these target economies.
Financial backing by Paradigm and Lightspeed highlights a continued institutional interest in the cryptocurrency infrastructure sector. Stablecoins are increasingly pivotal within the global remittance market landscape.
Institutional crypto funds are pivotal in improving financial infrastructure. Silicon Valley expertise is shaping online payment systems globally. The entry of such talent into Web3 payments furthers innovation.
Despite a lack of new token creation, stablecoin liquidity pools may experience an uptick. The project’s impact aligns with historical trends seen from similar sector advancements, such as initiatives by Circle and Stellar.
Standard Economics (Official Statement) – “Standard Economics aims to become ‘Starlink for money’ by facilitating borderless, low-cost payments for the unbanked and underserved across emerging markets.”source
