Y Combinator has finalized its first all-stablecoin investment, delivering $50 and,000 in USDC on the Solana blockchain to the prediction markets startup Totalis.
The funding round, which was completed through three separate onchain transactions, included a $1 test transfer followed by payments of $124,999 and $375,000. Totalis confirmed the details on X, noting that the assets are held via the Ramp financial operations platform.
"This is a small but meaningful shift in how startups get funded," Totalis said in a statement. The startup plans to use Ramp to manage both stablecoin and fiat transactions, including credit card payments.
Moving beyond traditional banking rails
Y Combinator President and CEO Garry Tan stated that the accelerator will now offer stablecoin payouts to any YC-funded startup, regardless of whether the company is crypto-native.
"The new financial rails of the revolution will not be over ACH or wire," Tan wrote on X.
Nemil Dalal, a visiting partner at Y Combinator focusing on crypto, previously highlighted the efficiency gains of using blockchain networks like Ethereum, Base, and Solana for capital deployment.
"Stablecoin transfers typically cost <1 cent and settle in <1 second, even across borders," Dalal said. He noted that traditional international wires often incur high fees and take several days to settle.
Since its 2012 investment in Coinbase, Y Combinator has backed nearly 100 crypto-related companies. Dalal added that the firm continues to seek opportunities in tokenization, stablecoins, and onchain capital formation.
Totalis is currently developing a prediction market platform designed for complex, multi-market trades spanning geopolitics, sports, and cryptocurrency.