Cyclops raises $20 million in Series A led by Nava Ventures

Payment infrastructure startup Cyclops has raised $20 million in a Series A round led by Nava Ventures, according to BlockBeats. The round also included Castle Island Ventures, Coinbase Ventures, Circle, Lasagna Ventures, and GPT Ventures. Cyclops provides integrated cryptocurrency and stablecoin infrastructure for payment companies, aiming to help them speed up settlement and handle cross-border transfers without building those tools in-house. The company said it is focused on improving the efficiency of fund movement through stablecoin infrastructure. The new round comes not long after Cyclops completed an $8 million seed round in March this year. Cyclops already counts Shift4 Payments and Mastercard among its existing customers. The financing adds to investor interest in companies building backend payment rails tied to crypto and stablecoins, especially those serving businesses that want blockchain-based settlement without developing their own systems.