I’m excited to announce that today we’re officially launching
@Cyclops_inc, the stablecoin and crypto platform for Payments Companies.
@AlexWilsonTGB and
@dcjmgmt are my Co-Founders and
@LindsayWysocki is our COO. More on the team later but, for now, let me tell you about what we’ve built.
Backed by
@Shift4,
@CastleIslandVC, and F-Prime, Cyclops is the stablecoin and crypto platform for payments companies. We’re on a mission to 10x the rate at which the top payments companies adopt stablecoin settlement and crypto payments.
We spent the last four years building stablecoin and crypto solutions from inside one of the world’s leading payments companies. In hours, we had a team of crypto payments founders and engineers, the buy-in and support of the leadership team and a mandate to build.
With every resource you could possibly imagine, this effort still took years. We decided there had to be a better way. The stage is set. Merchants want to accept crypto. Payment platforms are announcing crypto capabilities. Regulatory clarity has arrived and the blockchains are built to support the wave. But when you start building, you discover the real problem: the crypto infrastructure is not designed for payments. As a payments company, you are left with an impossible decision.
Either you spend $10M+ and 18 months assembling a team and building, or you stitch together 4-7 separate vendors - for custody, compliance, wallets, liquidity, conversion, settlement, reporting - and hope you like where you end up. Most companies are getting 6 months in before they realize they have to build an entire crypto company inside their payments company just to get this done.
We built Cyclops to put an end to this problem - building the crypto and stablecoin infrastructure platform that exists exclusively for payment service providers, merchant acquirers, and payment processors. We're live with customers today.
The payments companies that move now will own the market position, and Cyclops will be the key to claiming it and keeping it. If you're a payments company exploring crypto infrastructure, or looking for an upgrade, let's talk.
Check out our announcement here:
cyclops.io/post/introducing-…
Cyclops is live!
Cyclops is the stablecoin and crypto platform built for payments, and only payments.
Before Cyclops, PSPs faced an impossible choice: Ignore stablecoins and crypto, or spend millions across multiple vendors over many years.
Cyclops is the solution... (1/3)