Y Combinator Invests $500,000 in Totalis Using USDC on Solana
- Y Combinator invested $500,000 in Totalis using stablecoins, marking its first all-stablecoin deal.
- The investment was executed on the Solana network via three transactions of $1, $124,999, and $375,000.
- Funds were transferred directly to Totalis’ treasury without intermediaries and settled within seconds.
- Totalis aims to enhance prediction markets by allowing trades across categories like geopolitics and sports.
- The firm uses blockchain infrastructure for global fund transfers with minimal cost and delay.
Y Combinator’s investment in Totalis highlights a shift towards blockchain-based funding methods, bypassing traditional banking systems for faster settlements. This move underscores the growing trend of using stablecoins for capital formation in the startup ecosystem.
By executing this deal entirely onchain with Solana, Y Combinator demonstrates the potential for efficient and rapid financial transactions using stablecoins like USDC. (Source)
