Stablecoin startup Payy completes $6 million seed round financing, led by FirstMark Capital

According to The Block, the stablecoin startup Payy has completed a $6 million seed round of financing, led by FirstMark Capital, with participation from Robot Ventures and DBA Crypto. The financing is structured as a SAFE agreement with token warrants, and this round was completed in December of last year. To date, Payy has raised a total of $8 million.

Payy was originally named Polybase and is a Web3 database project that transitioned into a stablecoin payment platform in 2023.