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Source: Zebec
Zebec, a continuous and programmable cash stream protocol on Solana, announces $15 million in new financing.
The new funding, led by Solana Ventures and Distributed Global with investments from Lightspeed Venture Partners, Circle, Coinbase, Alameda Research, OKX Blockdream Ventures, DST Global Partners, Road Ventures, Global Founders Capital, BECO Capital, Greenoaks, GoldenTree Asset Management and 500 Startups will be used to continue scaling the Zebec DeFi payment solution.
Zebec’s unique programmable and continuous money stream protocol makes it simple for anyone to send and receive cash up to the second for investments, payments, subscriptions and more. Zebec Pay, Zebec’s initial application, is the first tax compliant, on-chain payroll processing system enabling employees to be paid by the second — in USDC or other stablecoins — and immediately use their money. As a DeFi native model that offers the best payment solution for DAOs, crypto projects, Web3 and the metaverse, Zebec is built on Solana for ultimate scalability, speed and low transaction fees.
Zebec is spearheading the evolution of how money is moved on the blockchain. Unlike traditional financial settlement systems that move money on a one-time basis and require intermediaries who charge fees and take multiple days to process transactions, Zebec’s streams can be started instantly and programmed as the user wishes.
“Despite all of the promise of decentralized finance and Web3, most organizations are still relying on Web2-style payments or, at best, one time wallet transfers,” said Sam Thapaliya, founder of Zebec. “We’ve built a DeFi native solution for instant, seamless and continuous money streams and we think Zebec will be the future model for on-chain payments.”
“We are incredibly excited to support the Zebec team and community as they build a foundational payment streaming layer on Solana that unlocks a variety of use cases,” said Matthew Beck, Partner, Solana Ventures.
“We believe Zebec is well positioned to become a core primitive for a multitude of streaming money and payment applications,” said Johnny Steindorff, Managing Partner at Distributed Global.
“Circle Ventures is delighted to be supporting Zebec in their push for broader crypto payment use cases,” said Jeremy Fox-Geen, CFO of Circle. “Applications like Zebec Pay and the ability to be paid in USDC by the second will be a game-changer for hourly workers and an attractive perk for an increasingly tech savvy workforce. We look forward to more exciting payment products that Zebec can bring to the growing digital economy.”
“As more and more web3 protocols, projects and companies come online, treasury management quickly becomes a key obstacle for founders to overcome. Zebec is providing the market with a much needed solution with their multi-signature wallet and treasury management offering. Coupled with their money streaming protocol, Zebec is quickly building the suite of treasury management, payroll and payments products and services that nearly every web3 company will need. It’s no surprise VCs, DAOs and startups have already adopted Zebec as their core partner,” said Joe McCann, Asymmetric.
Just months after launching, there are already more than 250 projects building a variety of businesses on the Zebec protocol.
Financial Services
