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3mo ago

Better Money Raises $10 Million to Build Stablecoin Clearinghouse

Launch is expected within weeks for a service focused on low-cost swaps among GENIUS Act–compliant dollar tokens.

The Better Money Company cofounders: Adam Zuckerman (left) and Sam Broner.

Overview

  • The Better Money Company announced a $10 million seed round Tuesday led by a16z crypto to fund a clearinghouse for dollar-pegged tokens.
  • The startup says the venue will let institutions swap between stablecoins in one place at lower cost than trading on open markets.
  • The initial roster will include tokens that meet U.S. GENIUS Act rules, with Tether’s USDT excluded and its U.S.-tailored USAT supported.
  • Founders Sam Broner and Adam Zuckerman report issuer commitments from Paxos, Stripe’s Bridge unit and MoonPay to join the platform.
  • The company expects to go live in the coming weeks after technical integrations and legal opinions, a timeline that tracks new U.S. rules requiring licensing, monthly reserve disclosures and annual audits for large issuers.