TechFlow News, March 31: According to Fortune, former a16z crypto investor Sam Broner has announced, together with co-founder Adam Zuckerman, the completion of a $10 million seed funding round to launch The Better Money Company—a stablecoin clearinghouse designed to enable low-cost exchanges among different U.S. dollar–backed stablecoins.
The round was led by a16z crypto, with participation from BoxGroup and Sunflower Capital as co-investors. Notable angel investors include Sean Neville, co-founder of Circle, and Charlie Songhurst, former Microsoft executive. The company has not disclosed the valuation for this round.
On the partnership front, the company has secured commitments from stablecoin issuers including Paxos, Bridge (a Stripe subsidiary), and MoonPay. The clearinghouse plans to support all stablecoins compliant with the U.S. Stablecoin Regulation Act (“Genius Act”), meaning USDT will be excluded—but its U.S.-based version, USAT, remains unaffected.
The product has not yet launched publicly; the team stated it will open access to users within the coming weeks.
