All startups accepted to YC will soon have the option to receive seed checks via stablecoins, cryptocurrency YC partner Nemil Dalal told The Block.
YC’s famous “standard deal” is that it invests $500,000 in startups accepted into the program in exchange for 7% of the company. Now, those transactions will be live on blockchains (Base, Solana, and Ethereum to be exact), starting with the upcoming spring batch.
Dalal said stablecoin transfers are often more effective, especially for startups working in emerging markets. But YC is also putting its money where its mouth is, so to speak. Last fall, YC partnered with Base and Coinbase Ventures to encourage startups to build more blockchains.Related companies.
There is renewed interest in blockchain technology in Silicon Valley as the United States takes steps toward more formal, cryptocurrency-friendly regulation of the industry.
