Ari Stiegler, managing partner of Flux Capital, announced this week that his firm is backing Zebec Protocol, the first real-time cash flow protocol based on the Solana blockchain. Zebec’s application, ZebecPay, allows employees to be paid by the second with U.S. Dollar Coin (USDC) and other stablecoins and start using their money instantly.
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“Advances in DeFi technology mean it’s time to transform what financial settlements look like in the 21st century,” said Stiegler. “From payroll to investments, the Zebec Protocol transforms periodic transactions into continuous streaming transactions by the second. I’m incredibly proud to support Zebec’s innovative approach and I’m excited to see them scale with adoption.”
Zebec is reimagining the future of payroll by creating options for how employees and businesses want to be paid. For example, by connecting a crypto wallet to ZebecPay, employees have options to withdraw their entire paycheck, convert some wages into top cryptocurrencies, or allocate savings to a compliant crypto IRA and 401k account. While traditional financial settlement systems can take several days to move a single transaction between parties, Zebec’s unique protocol allows money to be streamed every second, continuously and instantaneously.
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Flux Capital’s investment in Zebec comes as the company draws interest from a range of investors. Zebec recently closed a funding round led by Republic Capital, Shima Capital and Breyer Capital with additional participation from Resolute Ventures, Launchpad Capital, Backend Capital, Meltem Demirors, Gemini Frontier Fund, Infinity Ventures Crypto, Wave 7, Cadenza Ventures, Hack VC and Joe McCann.
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