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Cash Stream Protocol on Solana receives $15 million in funding from a crypto startup

Ed D - Crypto Investor 10-07-2022

  • Zebec raises $15 million to expand real-time settlement capabilities
  • Web3, DAOs, and the metaverse are all covered by the startup
  • Its protocol is being used in 250 projects

Zebec, a multi-signature treasury management and crypto settlement firm, has raised $15 million in funding. The funds, according to the company, will be used to improve the Solana blockchain's programmable payment stream technology.

Zebec aspires to be the payment solution for crypto to crypto projects, Web3, metaverse, and DAOs in particular. The company uses programmable cash stream payments — an on-chain payroll system — to deliver real-time settlement.

Zebec claims to have a one-of-a-kind programmable payment stream system that assures customers deliver payments on time and receives funds in a variety of methods for payments, bitcoin investments, and subscriptions, among other things, not impacted by the Solana Price.

Lightspeed Venture Partners, Coinbase, Circle, Alameda Research, BECO Capital, Road Ventures, and many others are among the company's investors. All these crypto market investment firms took part in the round of fundraising.

Despite all of the promises made by DeFi and Web3, Sam Thapaliya, the creator of Zebec, believes that most payment-based projects are still relying on the Web2 method and one-time crypto wallet transfers.

According to Circle CFO Jeremy Fox-Geen, the new Zebec application will be utilized to grow Zebec in order to provide "immediate and ongoing money streams on Solana." Currently, the firm claims to be working on more than 250 projects based on its protocol.

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