TLDR:
- Y Combinator is seeking more stablecoin startups for funding.
- Crypto secured $1.9 billion in funding last quarter and Ripple acquired a custody provider.
The startup incubator Y Combinator has issued a request for startups, highlighting the importance of stablecoin finance in the crypto industry. Stablecoins are tokens pegged to fiat currencies and can provide profitable opportunities for issuers. Y Combinator, known for its successful backing of companies like Airbnb and Reddit, sees stablecoins as a significant part of the future of money, similar to the evolution of once-illegal music file sharing into mainstream services like Spotify. Additionally, the crypto industry secured $1.9 billion in funding last quarter, with notable fundraises from firms like MetaStreet and RW3 Ventures. Ripple also made a significant move by acquiring custody provider Standard Custody & Trust. These developments signal a growing interest and investment in stablecoins and the broader crypto market.
