Key Takeaways
- • Cyclops secured $20 million in Series A funding led by Nava Ventures, with participation from Coinbase Ventures, Circle, Lasagna Ventures, Global PayTech Ventures, and repeat backer Castle Island Ventures, building on an $8 million strategic investment received in March 2026.
- • The Miami-based stablecoin payments infrastructure startup has scaled to over 300,000 merchants, processed more than $2 billion in total volume, and achieved 350% month-on-month volume growth over the past 12 months.
- • Cyclops plans to deploy Series A capital toward product development, expanding local licensing and regional teams, and scaling go-to-market operations while targeting a doubling of headcount from 31 employees by year-end 2026.
- • Nava Ventures' Kevin Chenault joined Cyclops' board as part of the funding round, signaling institutional backing for the company's unified stablecoin and crypto payments suite for payment processors.
- • The funding round reflects investor confidence in stablecoin infrastructure as a critical layer for enterprise payments, with the platform enabling 24/7 settlement, pay-ins, pay-outs, and treasury management capabilities.
Summary
Cyclops, a Miami-based fintech startup founded in 2025 by David Johnson, Pat Duffy, and Alex Wilson, has secured $20 million in Series A funding to accelerate its stablecoin payments infrastructure platform. The funding round was led by Nava Ventures and included investment from established crypto and fintech players including Coinbase Ventures, Circle, Lasagna Ventures, Global PayTech Ventures, and repeat investor Castle Island Ventures. This Series A round follows an $8 million strategic investment the company received in March 2026 from Castle Island Ventures, F-Prime, and Shift4 Payments.
The company's growth trajectory demonstrates significant market traction in the stablecoin payments space. Over the past 12 months, Cyclops has expanded its merchant network to exceed 300,000 partners and increased its monthly volume processed by 350%, reaching cumulative transaction volume exceeding $2 billion. The platform provides payments companies with a unified infrastructure suite that facilitates around-the-clock stablecoin settlement, pay-ins, pay-outs, and treasury management services, positioning itself as infrastructure essential to enterprise-grade crypto payments adoption.
The capital deployment strategy prioritizes product development, geographic expansion through local licensing initiatives, team growth, and go-to-market acceleration. The company currently operates with 31 employees and has publicly committed to doubling headcount by the end of 2026. Kevin Chenault, an executive from lead investor Nava Ventures, has joined Cyclops' board of directors, reflecting institutional backing and advisory support as the company scales operations. The funding reflects growing institutional confidence that stablecoin-based payment rails represent a critical infrastructure layer for modernizing enterprise settlement and money movement globally.
The company's growth trajectory demonstrates significant market traction in the stablecoin payments space. Over the past 12 months, Cyclops has expanded its merchant network to exceed 300,000 partners and increased its monthly volume processed by 350%, reaching cumulative transaction volume exceeding $2 billion. The platform provides payments companies with a unified infrastructure suite that facilitates around-the-clock stablecoin settlement, pay-ins, pay-outs, and treasury management services, positioning itself as infrastructure essential to enterprise-grade crypto payments adoption.
The capital deployment strategy prioritizes product development, geographic expansion through local licensing initiatives, team growth, and go-to-market acceleration. The company currently operates with 31 employees and has publicly committed to doubling headcount by the end of 2026. Kevin Chenault, an executive from lead investor Nava Ventures, has joined Cyclops' board of directors, reflecting institutional backing and advisory support as the company scales operations. The funding reflects growing institutional confidence that stablecoin-based payment rails represent a critical infrastructure layer for modernizing enterprise settlement and money movement globally.
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