PANews reported on May 3 that, according to Financialit, stablecoin financial services platform UnblockPay announced the completion of a $4.5 million seed round of financing, led by Prelude, with participation from several well-known institutions and angel investors including Plug and Play, Wintermute, and Signature Ventures.

It is understood that the funds raised in this round will be mainly used for the research and development of compliant financial products, to help enterprises integrate the stablecoin system into their daily financial operations, to build standardized cross-border settlement solutions, and to improve the two-way seamless exchange capability between fiat currency and mainstream stablecoins such as USDT and USDC, and to continuously expand the ecosystem of compliant stablecoin enterprise services.