Cyclops raised $20M Series A led by Nava Ventures with participation from Coinbase Ventures and Circle. The round includes former Mastercard president Javier Perez, signaling stablecoin infrastructure for payments has investor backing.
Cyclops, a stablecoin infrastructure firm built for payments companies, closed a $20 million Series A led by Nava Ventures. The round drew participation from Castle Island Ventures, Coinbase Ventures, Circle, Lasagna Ventures and Global PayTech Ventures, the latter run by Javier Perez, a former Mastercard president and an early investor in Adyen.
Kevin Chenault of Nava Ventures took a board seat as part of the deal. The company was founded by Alex Wilson, Pat Duffy and David Johnson.
The raise comes as the broader payments industry tests whether stablecoin settlement can reduce friction and cost for merchants and acquirers. Perez's involvement links the startup to a pair of established payments giants – Mastercard and Adyen – that have each explored or launched digital-currency capabilities.
Cyclops calls itself the only stablecoin infrastructure provider purpose-built for payments. The funding suggests investors see a niche between general-purpose crypto rails and traditional card networks, though the space remains early and regulatory clarity around stablecoins is incomplete.
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