Stablecoin Payment Company Zynk Completes $5 Million Seed Round, Led by Hivemind Capital

On November 4th, as reported by The Block, the stablecoin payment company Zynk has successfully completed a $5 million seed round of financing. This round was led by Hivemind Capital. Coinbase Ventures, Alliance DAO, Transpose Platform VC, Polymorphic, Tykhe Ventures, and Contribution Capital also took part in this financing round. Zynk's co-founder and CEO, Prashanth Swaminathan, stated that this financing round was carried out in the form of a Simple Agreement for Future Equity (SAFE) and was completed in August. However, he declined to disclose the post-financing valuation. Zynk is a cross-border payment infrastructure company that supports stablecoins, enabling users to achieve instant settlement without the need for pre-funding. The company has announced that the new funds will mainly be used to expand its transaction corridor coverage, enhance its liquidity, technology, and compliance infrastructure, and establish partnerships with leading global payment service providers.