Standard Economics Secures $9 Million Funding to Expand Uno App

Standard Economics, a stablecoin payment startup, secured $9 million in seed funding, led by Paradigm, to advance its Uno app, initially launched in Mexico, on October 28.

This funding emphasizes expansion into global cross-border remittances, targeting unbanked populations while leveraging regulated stablecoins for seamless financial transactions.

Standard Economics Attracts $9 Million for Global App Expansion

Standard Economics has successfully raised $9 million in its seed funding round, with Paradigm leading the efforts alongside Lightspeed and several angel investors. The company plans to utilize these funds to accomplish a major rollout of the Uno app across several international markets.

Expanding the Uno app will primarily target Latin America and Asia, starting in Mexico. The app is designed to facilitate cross-border remittances using stablecoins, which ensures users can transact seamlessly across national boundaries with appropriate regulatory backing.

The announcement has received positive reactions from financial analysts, noting the start-up’s strategic approach to banking services for the unbanked. Caitlin Pintavorn of Paradigm described the initiative as a potential “Starlink for money,” signifying the intent to deliver global, inclusive access to financial infrastructure via stablecoins – source.

Analysis of Stablecoin Impact and Future Financial Trends

Did you know? Standard Economics’ approach to leveraging stablecoins could resemble past successes like the Thunes network, known for revolutionizing cross-border payments in over 130 countries.

According to CoinMarketCap, USDC holds a stable value at $1.00 per token, with a substantial market cap of $76.21 billion. In a 24-hour period, its trading volume reached $17.49 billion. Price movements have shown notable stability, with minor fluctuations over three months, despite broader crypto market dynamics.

The Coincu research team anticipates that Standard Economics’ success could prompt other financial institutions to explore similar solutions using stablecoins. This may lead to enhanced cross-border finance options and reassessments of current regulatory frameworks to accommodate new financial technologies.

Evan Jones, CEO of Standard Economics, stated, “Our product is built to work globally and designed for people traditional finance overlooks. Our goal is to make it possible for anyone on Earth to access money… and to make it unbelievably easy to use this product” – source.