Better Money raises $10M seed
Better Money, building faster and cheaper stablecoin infrastructure, closed a $10M seed round led by a16z Crypto and opened a waitlist for its product. Founders include ex‑a16z and ex‑Eigen Labs alumni, signaling institutional appetite for improved stablecoin rails. (x.com)
a16z crypto’s post lays out Better Money’s design as a centralized clearing layer that executes “any stablecoin in, any stablecoin out” swaps at predictable prices and aims to eliminate slippage by routing settlement through direct participation from banking partners and issuers. (a16zcrypto.com) The startup’s co‑founders are named Sam Broner and Adam Zuckerman; Broner previously worked at the Federal Reserve Bank of Boston and on crypto investments at a16z crypto, while Zuckerman served as general counsel at Eigen Labs and practiced at Latham & Watkins. (a16zcrypto.com) Better Money’s own site advertises a waitlist and product messaging that promises “$1 in = $1 out,” guaranteed pricing that won’t change with market conditions, and a single endpoint to access multiple issuer partners. (bettermoney.com) The Block reports that Paxos, Stripe’s Bridge, MoonPay, MetaMask and Phantom — plus issuers/platforms such as Frax, Agora, M0, Bastion and Brale — intend to join the clearinghouse as counterparties or integrations. (theblock.co) Reporting tied to the GENIUS Act says the platform will initially handle only U.S. GENIUS‑compliant payment tokens, that it will support Tether’s U.S. variant USAT, and that global USDT is being excluded from initial integrations. (cryptonews.net) Public coverage lists participating investors beyond the lead organization, including early backers BoxGroup and Sunflower Capital plus angel names such as Circle co‑founder Sean Neville and Charlie Songhurst, alongside other individual participants named in filings and coverage. (theblock.co) Job postings reviewed by reporters show Better Money hiring New York‑based engineers with salary bands roughly between $175,000 and $225,000, and the founders told outlets the product could be made available to customers in the coming weeks once technical integrations and legal opinions are completed. (cryptonews.net)
