The Y Combinator Startup Acceleration Fund (YC) is preparing to allow startups participating in its program to receive initial investment capital through stablecoin. The information was shared by Nemil Dalal, YC's partner in charge of cryptocurrency, with The Block.
According to YC's familiar model, this fund will invest 500,000 USD in selected startups to exchange for 7% of shares. With the new change, this investment agreement will be implemented on the blockchain platform and is expected to be applied from the upcoming selection round. The selected blockchain networks include Base, Solana and Ethereum.
A YC representative said that using stablecoin helps the capital transfer process to be faster and more efficient, especially for founders in emerging markets. This form is also assessed to help reduce transaction costs and shorten processing time compared to traditional money transfer methods.
Previously, in the fall of last year, YC partnered with Base and Coinbase Ventures to encourage founders to develop businesses related to blockchain. This move shows that YC is increasing its level of participation in the digital asset ecosystem.
The trend of interest in blockchain technology is increasing again in Silicon Valley. This context takes place as the US gradually builds a clearer and more friendly legal framework for the cryptocurrency sector, creating conditions for technology businesses to expand their operations.
