Stable Sea, a stablecoin liquidity and orchestration company that facilitates stablecoin offramping to global markets, announced a $3.5 million funding round led by Kindred Ventures with participation from Ludlow Ventures, DFS Lab, The Venture Dept. and The Fintech Fund.
The proceeds from the funding round will be used to further Stable Sea’s mission of “providing efficient, cost-effective and compliant stablecoin offramping solutions.”
In 2024, the annualized transaction value “for the stablecoin industry reached $15.6 trillion, demonstrating its significant role in the global financial system.”
As regulations become clearer, stablecoins are poised “to enable new, more efficient use cases for global payments, remittances and institutional settlements.”
However, the complexity, opaqueness and cost of “converting stablecoins to local fiat currency still remains a challenge for companies and a necessity for end users.”
Stable Sea was created to address these problems and “help companies access deep pools of digital asset liquidity to seamlessly offramp stablecoins.”
The company was founded by a team of colleagues with “experience in fintech, crypto and payments infrastructure.”
The team’s understanding of this space and technology, coupled with their experience of similar challenges, “led them to create a solution that provides companies with the necessary dashboard tooling, orchestration and access to compliant liquidity to enable seamless stablecoin conversion to local fiat.”
Tanner Taddeo, CEO of StableSea said:
“Stablecoins speed up global treasury movements for institutions and improve cross-border payment experiences for FinTechs. Yet folks still need local fiat for day-to-day business, product, or operational needs. While the technology exists piecemeal, the infrastructure linking digital and traditional financial systems is still evolving and access to liquidity remains a challenge. At Stable Sea, we equip Fortune 500 companies, FinTechs, and startups building in stablecoins with the tools to off-ramp programmatically worldwide — bridging both financial systems and unlocking access to deep, compliant liquidity.”
Kanyi Maqubela, Managing Partner at Kindred Ventures said:
“We’re proud to invest in Stable Sea because stablecoins can’t go mainstream without seamless, reliable liquidity. Moving between stablecoins and local currencies is still too costly and clunky, slowing down adoption. Stable Sea is changing that by making the process frictionless, which has the potential to open up entirely new use cases. We’re excited to back their vision and see the impact they’ll have.”
As noted in the update, Stable Sea provides the “simplest way for companies to off-ramp stablecoins, globally.”
They enable businesses to programmatically “convert stablecoins into local fiat across global markets, ensuring deep liquidity, last-mile payout efficiency, and regulatory certainty.”
By simplifying access to stablecoin liquidity, they aim to empower financial innovation and “unlock new opportunities in the global economy.”
As mentioned in the announcement, Kindred Ventures is a VC firm that backs founders “building the future using technology and science.”
With a focus on seed and early stage, Kindred has backed “more than 100 industry leaders across AI, climate tech, fintech, Web3, healthtech, tools & infrastructure, and consumer tech.”
Most notable portfolio companies “include: Uber, Coinbase, Color Health, Perplexity, Postmates, Poshmark, Tonal, dYdX, Magic Eden, Humane, and Tala.”
Kindred Ventures was founded in 2014 by Midas List investor Steve Jang, who manages the “$600 million AUM fund with Managing Partner Kanyi Maqubela.”
The firm is based in San Francisco, CA.