Repeat founders spent the last four years building crypto and stablecoin products for a payments company.
MIAMI, March 4, 2026 /PRNewswire/ — Cyclops announces $8M strategic investment from Castle Island Ventures, F-Prime and Shift4 Payments to build the stablecoin and crypto platform exclusively for the payments industry. Created by repeat founders Pat Duffy, Alex Wilson and David Johnson, the new platform enables payment service providers (PSPs) to offer crypto and stablecoin capabilities through a single partner, replacing the fragmented multi-vendor approach that has prevented widespread adoption of digital assets across the payments industry.
The founders are known for building purpose-built crypto platforms. Prior to Cyclops, they created The Giving Block, the leading crypto donations solution for nonprofits. After selling the business to Shift4, they spent the last three years building out Shift4’s stablecoin and crypto solutions. Dissatisfaction with the incumbents led them to found Cyclops, running their same purpose-built playbook but, this time, for payments companies.
“Using a patchwork of existing solutions, we built products for pay-with-crypto, stablecoin settlement and stablecoin payouts at Shift4,” said Alex Wilson, Co-Founder of Cyclops. “It was so much harder than it needed to be. We shouldn’t have needed multiple vendors and dedicated engineering and product teams to bring those products to market. Cyclops is the first platform where everything comes out of the box ready for a payments company.”
The platform enables payments companies to offer stablecoin settlement, crypto payments and digital asset capabilities to merchants without building or maintaining blockchain infrastructure. By focusing on one industry, the company tailors their onboarding, compliance and technical offerings to form-fit traditional and agentic payments use cases. By eliminating the need for intensive integrations across multiple partners, Cyclops aims to accelerate stablecoin adoption in the payments industry.
“Payments companies see the potential for crypto and stablecoin products. Merchants are asking for them. But they’ve been prohibitively difficult and expensive to bring to market. We like Cyclops because we don’t think a payments company should need to become a crypto company just to offer these products to their customers,” said Luke Thomas, Chief Strategy Officer at Shift4.
MiCA and GENIUS have created the legal clarity necessary for payments companies to leverage their distribution to capitalize on the stablecoin boom. Stablecoins help PSPs move money more quickly, grow their margins and build stickier relationships with merchants.
“The Cyclops team spent years building stablecoins and crypto products inside of a large company. Their products are unique because they had to do it the hard way. No one knows the pain points better than they do,” said Sean Judge, General Partner at Castle Island Ventures.
Starting today, Cyclops will be commercially available. Learn more about Cyclops here.
About Cyclops
Cyclops is the first stablecoin and crypto infrastructure platform built exclusively for the payments industry. With low and no code solutions, Cyclops is the fastest way for payments companies to bring crypto and stablecoin offerings to market. Founded by crypto and payments industry veterans who built crypto solutions for Shift4, Cyclops enables crypto acceptance, stablecoin settlement and stablecoin payouts for payments companies.
Cyclops is backed by Castle Island, F-Prime and Shift4. Additional information is available at cyclops.io.
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SOURCE Cyclops
