YC startups can now receive investment in stablecoin

All startups accepted into YC will soon have the option to receive their seed checks via stablecoins, crypto YC partner Nemil Dalal told The Block.

YC’s famous “standard deal” is that it invests $500,000 into startups accepted into its program in exchange for 7% of their companies. Now that deal is hitting the blockchain (Base, Solana, and Ethereum, to be exact), starting with the upcoming spring batch.

Dalal said that stablecoin transfers are often more effective, specifically for founders working in emerging markets. But also, YC is putting its money where its mouth is, so to speak. Last fall, YC partnered with Base and Coinbase Ventures to encourage founders to build more blockchain-related companies.

Interest in blockchain tech is on the rise again in Silicon Valley as the U.S. has taken steps toward more formal, crypto-friendly regulation of the industry.