Stable Sea, a company focused on stablecoin liquidity and orchestration, has officially launched after securing $3.5 million in funding. The funding round was led by Kindred Ventures, with additional contributions from Ludlow Ventures, DFS Lab, The Venture Dept, and The Fintech Fund.
As of 2024, the stablecoin industry is projected to reach an annualized transaction value of $15.6 trillion, fueled by a supportive administration in the White House, which is anticipated to drive significant growth in the sector. However, Stable Sea points out that the complexity, opaqueness, and costs associated with converting stablecoins to local fiat currency continue to pose challenges for companies and users alike.
To tackle this issue, Stable Sea offers technology that enables companies to seamlessly convert stablecoins into local fiat currency across global markets. Their solution promises deep liquidity, efficient last-mile payouts, and regulatory assurance.
Tanner Taddeo, CEO of Stable Sea, stated, “Stablecoins expedite global treasury movements for institutions and enhance cross-border payment experiences for fintechs. However, businesses still require local fiat for everyday operations and product needs. Although some technological solutions exist, the infrastructure connecting digital and traditional financial systems is still developing, making liquidity access a challenge.”
“Our goal at Stable Sea is to provide Fortune 500 companies, fintechs, and startups that utilize stablecoins with the tools necessary to programmatically off-ramp their assets globally, effectively bridging both financial systems and unlocking access to substantial, compliant liquidity.”