Stablecore, a US-based fintech, has secured a $20 million investment round led by Californian venture capital firm Norwest. This funding is designated to support the company’s growth in enabling US financial institutions to offer stablecoins, digital asset products, and tokenised deposits.
Additional backing in the funding round came from BankTech Ventures, Bank of Utah, Coinbase Ventures, Curql, EJF Ventures, and Bankers Helping Bankers Fund, among other investors. Established this year, Stablecore is co-founded by Alex Treece (CEO), Eduardo Montemayor (CTO), and Nick Elledge (COO).
The company’s platform integrates with existing banking infrastructure and digital services. This allows banks and credit unions to provide digital asset offerings to their customers without requiring modifications to their current technology systems.
Stablecore’s services encompass stablecoin transactions, cryptocurrency-collateralised dollar loans, and digital asset accounts. These capabilities are designed to support a range of applications, including international transfers, treasury operations, and digital investment functions.
The capital infusion will support Stablecore’s recruitment efforts and its expansion initiatives, targeting the more than 8,000 regional and community banks and credit unions operating across the US.
According to Alex Treece, CEO of Stablecore, the funding coincides with significant regulatory developments, including the passage of the GENIUS Act in July 2025. Treece stated that this act has established stablecoins and digital assets as a “new paradigm, becoming permissible activities within banking.” He further added, “Banks and credit unions – especially Main Street institutions – are the most logical, secure home for these assets alongside customers’ existing financial accounts.”
