Stablecoin Payment Company Zynk Completes $5 Million Seed Round, Led by Hivemind Capital

BlockBeats News, November 4th, according to The Block, stablecoin payment company Zynk has completed a $5 million seed round of financing, led by Hivemind Capital. Coinbase Ventures, Alliance DAO, Transpose Platform VC, Polymorphic, Tykhe Ventures, and Contribution Capital also participated in this round of financing.

Zynk's co-founder and CEO Prashanth Swaminathan stated that this financing round was conducted in the form of a Simple Agreement for Future Equity (SAFE) and was completed in August, but he refused to disclose the post-financing valuation.

Zynk is a cross-border payment infrastructure company that supports stablecoins, enabling users to achieve instant settlement without pre-funding. The company has announced that the new funds will be primarily used to expand its transaction corridor coverage, enhance its liquidity, technology, and compliance infrastructure, and establish partnerships with leading global payment service providers.