"Silicon Valley's most prominent startup incubator will allow its spring cohort of entrepreneurs to receive their funding in stablecoins. YCombinator, whose alumni include the founders of Airbnb and DoorDash, announced on Tuesday that founders can opt to receive their customary allotment-typically around $500,000-in the Circle-issued USDC. Startups founders who choose stablecoins can choose to receive the tokens on various blockchains such as Ethereum and Solana, Nemil Dalal, a visiting partner at Y Combinator who focuses on crypto, told Fortune."
""Stablecoins is one of the key pillars for us," Dalal said, referring to one of the areas where Y Combinator would like to see more startup ideas. "So we just want to live and breathe that as well." Price agnostic While many crypto venture capitalists have let the startups in their portfolio take funding from stablecoins for some time, more traditional tech investors haven't given that opportunity to founders."
Y Combinator will let spring cohort founders opt to receive their customary funding—typically around $500,000—in the Circle-issued USDC stablecoin. Founders choosing stablecoins can receive tokens on blockchains such as Ethereum and Solana, and Y Combinator may add other stablecoins based on demand. Y Combinator identifies stablecoins as a key pillar for startup ideas and expresses intent to embrace the area. Stablecoins previously served primarily crypto traders but have more recently gained traction as faster, lower-cost means to move money, attracting Wall Street and corporate interest. Regulatory action and major industry deals have increased mainstream attention.
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