Solana Payment Processor Raises $15M on Promise of Instant Settlements

The platform can be used to send and receive money for investments, payments and subscriptions

article-image

Zebec Founder Sam Thapaliya | Source: Zebec

share
  • Dubbed Zebec Pay, the product is a tax-compliant, on-chain payroll processor that pays employees via USDC or other stablecoins within seconds
  • Within a few months of launching, the protocol has over 250 projects built on the blockchain

A Solana crypto payment processor closed a $15 million venture round as demand for the proof-of-stake protocol lingers after its explosive growth last year.

Zebec’s Series A round was led by Distributed Global and Solana Ventures. The company did not disclose its latest valuation.

Other investors include Alameda Research, Circle, Coinbase, GoldenTree Asset Management and Lightspeed Venture Partners.

The platform enables continuous, real-time settlements and can be used to send and receive money for investments, payments and subscriptions. Dubbed Zebec Pay, the product is a tax-compliant, on-chain payroll processor that pays employees via USDC or other stablecoins within seconds. 

Support for USDC “onboards a new generation of workers to the digital asset economy,” Circle Chief Financial Officer Jeremy Fox-Green told Blockworks.

“For crypto-curious employees, providing an option to allocate a portion of their paycheck into crypto is an easy way for them to get started, without having to transfer funds from a traditional banking system,” Fox-Green said.

Zebec launched in November 2021 and has raised $21 million in all and plans to raise additional funding “soon,” Founder Sam Thapaliya told Blockworks. “Our goal is growth and to grow fast.”

The protocol now supports more than 250 projects. Zebec additionally plans to launch a debit card that supports fiat-to-crypto conversion — a major force, in Thapaliya’s eyes, when it comes to driving mainstream crypto adoption.

The protocol is focused on scaling partnerships with products focused on a range of crypto products, including fractionalized non-fungible tokens (NFTs), yields and options, he said. 

“People are doubling down on this idea of continuous money, and this is just the starting point,” Thapaliya said.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (1).png

Research

Aave’s revenues have doubled from April lows and are fast approaching all-time highs. With 35% of borrow interest coming from ETH and 55% from stablecoins, Aave is emerging as a powerful proxy as an ETH and stablecoin beta. As looping strategies accelerate growth and Horizon positions the protocol to ride the RWA wave, Aave is shaping up as one of DeFi’s most compelling multi-narrative plays.

article-image

Lawmakers are expected to consider the new version at the end of September

article-image

Bitwise investment strategist expects end to “the wild-west phase of public companies …turning into crypto vehicles”

article-image

The first Solana treasury company is set to make its US debut

article-image

The Solana DAT reportedly plans to raise $1 billion

article-image

YO’s new yoEUR vault lands as incentives try to pull EURC onchain, but fragmented bridges and caps keep markets segmented

article-image

Astana regulator begins trial accepting USD-backed stablecoins for payments through Bybit integration

by Blockworks /