Miami Startup Cyclops Raises $20 Million Series A for Stablecoin Payments

Miami-based startup Cyclops raised $20 million in a Series A funding round on Wednesday to supply payments companies with stablecoin infrastructure for faster settlement and cross-border transactions. Nava Ventures led the round. Castle Island Ventures, Coinbase Ventures, Circle, Lasagna Ventures, and GPT Ventures also participated.

The company declined to disclose the valuation. The round follows an $8 million seed round completed in March. Cyclops sells an all-in-one platform that bundles crypto and stablecoin services so payments providers can avoid building the tools themselves.

Co-CEO Alex Wilson said the approach lets businesses and consumers move cash more quickly than with legacy wire transfers that operate only during banking hours. Wilson launched Cyclops with cofounders Pat Duffy and David Johnson. In 2018 Wilson and Duffy founded The Giving Block, which offered similar services to the charity sector and counted Save the Children and St.

Jude among its clients. The cofounders sold that company to Shift4 Payments, after which Wilson served as head of crypto and stablecoins at the acquirer, which serves more than 300,000 merchants. Cyclops maintains offices in Miami and Vienna, Austria.

Its current clients include Shift4 Payments and Mastercard. The firm has begun licensing processes in the United States and Europe. Stablecoin market capitalization has grown 137 percent since 2024 and now stands at nearly $310 billion, according to DefiLlama data.

President Donald Trump signed the GENIUS Act into law last July, establishing a regulatory framework for U.S. dollar-backed stablecoins. Nava Ventures partner Kevin Chenault said the founders’ prior experience gives Cyclops an edge.