Privacy-focused stablecoin payment network Payy raises $6 million in seed funding, led by FirstMark Capital.

CoinFeed reported on March 26th that Payy, a startup focusing on privacy-focused stablecoin payments, has completed a $6 million seed funding round. The round was led by FirstMark Capital, with participation from Robot Ventures and DBA Crypto. Formerly the Web3 database project Polybase, Payy transitioned to stablecoin payments in 2023. It currently offers self-custodied wallets and Visa cards supporting USDC transactions. Payy is also developing the Payy Network, a Layer 2 network on Ethereum using zero-knowledge proofs, to achieve on-chain privacy for transaction amounts and addresses.