3 weeks ago
Y Combinator announced plans to money Web3 startups done a caller “Fintech 3.0” inaugural created successful collaboration with Base and Coinbase Ventures connected Sept. 23.
The accelerator targets companies gathering fiscal systems connected blockchain infrastructure, citing regulatory clarity and infrastructure maturity arsenic cardinal factors enabling this sector’s growth.
The announcement, released simultaneously by Y Combinator and Base connected Sept. 23, positions blockchain exertion arsenic the instauration for a caller fiscal epoch wherever payments settee instantly worldwide for nether 1 cent.
Y Combinator frames this arsenic the 3rd improvement of fiscal technology, pursuing the archetypal digitization successful the 1990s and the emergence of API-based services implicit the past decade.
According to the announcement, 3 factors person aligned to marque on-chain concern viable now. The GENIUS Act established national regulations for stablecoins, starring to a $30 cardinal marketplace headdress maturation and involvement from Amazon and Walmart successful launching their ain stablecoins.
Additionally, Layer-2 (L2) blockchain infrastructure has achieved sub-second, sub-cent transaction processing, with Base reporting astir $15 cardinal successful level assets.
The 3rd origin cited was increasing marketplace demand, with an estimated 560 cardinal crypto users globally and $30 trillion successful stablecoin settlements past year, representing a 300% year-over-year increase.
Strategic absorption areas
Y Combinator identified 3 precedence backing sectors. Stablecoins correspond the superior opportunity, with dollar-pegged integer currencies proving the exemplary for instant planetary payments.
The accelerator seeks companies gathering section currency stablecoins and crypto-native commerce platforms. Base reported implicit $4 cardinal successful stablecoin worth crossed its platform, including EURC, CADC, IDRX, and further section variants.
The 2nd absorption country is tokenization and trading applications. The inaugural targets startups that use blockchain rails to accepted assets, enabling programmable equity tokens and planetary entree to antecedently illiquid markets.
JPMorgan precocious launched USD-backed deposit tokens connected Base done its Kinexys platform, demonstrating organization adoption of tokenized assets for instant settlement.
Applications and AI agents comprise the 3rd sector, with Y Combinator backing companies gathering on-chain societal platforms and autonomous trading systems.
Base’s Clanker AI cause generated implicit $13 cardinal successful gross during its archetypal 5 months by launching tokens done substance commands, portion different agents execute trades and make prediction markets.
Y Combinator positions the regulatory situation arsenic the important enabler for this backing focus.
The accelerator argued that erstwhile regulatory uncertainty prevented generational institution gathering successful crypto, making existent national frameworks indispensable for laminitis assurance successful pursuing on-chain fiscal services.
The station Y Combinator launches backing inaugural targeting on-chain startups with Base partnership appeared archetypal connected CryptoSlate.
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