TechFlow News, July 15: According to Fortune, Miami-based payment infrastructure startup Cyclops announced the completion of a $20 million Series A funding round, led by Nava Ventures, with participation from Castle Island Ventures, Coinbase Ventures, Circle, Lasagna Ventures, and GPT Ventures. The company provides integrated cryptocurrency and stablecoin infrastructure for payment enterprises, helping them achieve faster settlement and cross-border transfers without needing to build related tools themselves.
Cyclops stated that currently many payment service providers still rely on traditional banking systems, resulting in transfers being limited to business days and banking hours. The company hopes to improve capital flow efficiency through stablecoin infrastructure. This funding round comes shortly after its $8 million seed round completed in March this year. The report stated that Shift4 Payments and Mastercard are already its existing customers.
