For years, stablecoins have been pitched as the future of moving money. The technology promises faster settlements, lower costs, and payments that don’t stop when banks close. Yet for many of the world’s largest payment companies, putting that vision into practice has been far more complicated than advertised.
Miami-based Cyclops thinks the problem isn’t the plumbing.
The fintech announced a $20 million Series A round led by Nava Ventures, with participation from Coinbase Ventures, Castle Island Ventures, Circle Ventures, GPT Ventures, and Lasagna Ventures. The funding will help the company expand its platform, grow its team, and bring stablecoin infrastructure to more markets.
Cyclops employs more than 30 people and expects to roughly double its headcount by the end of the year, CEO Alex Wilson told Refresh Miami.
“We plan to use the capital in 3 ways,” Wilson said. “First, scale the product and continue to invest heavily in product and engineering resources. Second, scale the go to market team and motion. And third, expand licensing in more jurisdictions.”
Rather than building another wallet or payments product, Cyclops has focused on simplifying the fragmented ecosystem behind stablecoin payments. Today, payment companies often need separate providers for settlement, foreign exchange, compliance, licensing, payouts, and treasury management before they can launch a single offering.
Cyclops aims to solve that by bringing those pieces together behind a single API. Instead of replacing specialist providers, the platform connects them into one system, reducing integration work and giving payment companies a single relationship to manage.
The strategy comes from experience. Members of the founding team previously built payments infrastructure inside a major public payments company, where they dealt with the operational complexity created by disconnected vendors. They later applied a similar philosophy to The Giving Block, the crypto philanthropy platform that became the leading provider for nonprofits accepting digital assets.
Since emerging from stealth, Cyclops has assembled a leadership team with experience from Coinbase, Fiserv, Shift4, JPMorgan, Spreedly, SpaceX, and Paysafe. The company also said its payment volume has been growing 350% month over month.
While the platform serves payment companies rather than merchants directly, its impact could reach businesses and consumers alike through faster settlements, global payouts, improved foreign exchange management, and round-the-clock payment capabilities.
Wilson believes Miami has also played a role in the company’s growth.
“Miami is the best city in the world to start and run a business,” he told Refresh Miami. “The energy in Miami is unlike any other city. People are entrepreneurial. People want to help. People are just generally positive and believe anything is possible is America.”
Wilson added: “In many ways, the Miami attitude embodies the American Dream. We are excited to continue building and growing in Miami as our global HQ.”
READ MORE IN REFRESH MIAMI:
- Cyclops raises $8M to simplify stablecoins for payments companies
- XFX lands $17M to fix the messy middle between dollars and stablecoins
- Global startup OpenFX growing from Miami, using stablecoin to speed money transfers
- From jammed wires to stablecoins, Shield lands $5M to fix global trade payments
- Cyclops raises $20M to build the missing link in stablecoin payments – July 15, 2026
- The startup betting policy will become the next Bloomberg Terminal just raised $70M – July 15, 2026
- Flex lands another $70M as it bets the future of banking belongs to business owners, not businesses – July 14, 2026
