All startups accepted into YC will soon have the option to receive seed checks via stablecoins, crypto YC partner Nemir Dalal told The Block.
YC's famous “standard deal” is to invest $500,000 in startups accepted into the program in exchange for 7% of the company. Currently, that trading applies to blockchains (Base, Solana, and Ethereum, to be exact), starting with the upcoming spring batch.
Dalal said stablecoin transfers are often more effective, especially 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 create more blockchain-related companies.
Silicon Valley is seeing a resurgence of interest in blockchain technology as the United States takes steps toward more formal, crypto-friendly industry regulation.