Cyclops Secures $8M Strategic Investment to Build Stablecoin and Crypto Platform for Payments Industry

Miami-based Cyclops has announced an $8M strategic investment from Castle Island Ventures, F-Prime, and Shift4 Payments to develop a stablecoin and crypto platform specifically for the payments industry. The platform, founded by repeat entrepreneurs Pat Duffy, Alex Wilson, and David Johnson, allows payment service providers (PSPs) to offer crypto and stablecoin capabilities through a single partner, simplifying the fragmented multi-vendor approach currently hindering widespread adoption of digital assets in the payments industry.

The founders, known for creating purpose-built crypto platforms, previously established The Giving Block, a leading crypto donations solution for nonprofits, which was later sold to Shift4. Their dissatisfaction with existing solutions led them to launch Cyclops, with a focus on providing all-in-one solutions for payments companies. The platform aims to streamline stablecoin settlement, crypto payments, and digital asset capabilities for merchants without the need for extensive blockchain infrastructure.

By tailoring offerings to traditional and emerging payment use cases, Cyclops seeks to eliminate complex integrations across multiple partners and accelerate stablecoin adoption in the payments industry. The platform has already gained support from industry leaders and is commercially available starting today. For more information about Cyclops, visit their website at cyclops.io.