Y Combinator, a prominent startup accelerator in Silicon Valley, has completed a funding round entirely in USDC for prediction markets startup Totalis, marking its first all-stablecoin investment.
Totalis announced Monday on X that it has received $500,000 in funding from Y Combinator in USDC on Solana, with the assets held on Ramp, a financial operations platform. According to the post, Y Combinator completed the funding in three onchain transactions — a $1 test, followed by $124,999 and $375,000 transfers.
“This is a small but meaningful shift in how startups get funded,” said Totalis. The startup added that it plans to use Ramp to execute transactions in both stablecoins and fiat and pay for its credit card with its stablecoin account on the fintech platform.
This all-stablecoin funding reflects Y Combinator’s commitment to crypto-native operations. Garry Tan, president and CEO of Y Combinator, wrote Monday on X that the accelerator will invest in any YC-funded startup in stablecoins, confirming that the stablecoin payout option is not limited to crypto-related companies.
“The new financial rails of the revolution will not be over ACH (automated clearing house) or wire,” Tan said.
Nemil Dalal, a visiting partner focused on crypto at Y Combinator, previously told The Block in February that YC is open to funding startups in USDC across major blockchain networks, including Ethereum, Base, and Solana.
“Stablecoin transfers typically cost <1 cent and settle in <1 second, even across borders,” Dalal said at the time. “Traditional rails like international wires often cost tens of dollars once you factor in bank and intermediary fees, and can take days to settle.”
Y Combinator has backed nearly 100 crypto-related startups since its initial investment in Coinbase in 2012. Dalal noted that the accelerator is still seeking to fund more startups focused on stablecoins, tokenization, new credit markets, and onchain capital formation.
Meanwhile, Totalis is a startup focused on developing a prediction market platform to enable users to build more complex, multi-market trades across areas such as geopolitics, crypto, and sports.
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