Payy Network According to the company’s statement, it raised $6 million in Seed funding. The financing was led by FirstMark Capital with participation from Robot Ventures and DBA Crypto.
Payy is a stablecoin blockchain that states it is private by default. Payy believes there is a major flaw in the current stablecoin ecosystem in that on-chain payments and transfers are visible by default.
Payy offers a service that enables private transactions for global companies. Using zero-knowledge proofs, value transfers are protected so that activity cannot be attributed to the transaction.
In 2025, Payy launched the Payy Visa card, the first non-custodial stablecoin card with privacy feature.
Sid GandhiPayy Network CEO believes businesses will never be able to adopt public on-chain payment flows.
“Today, sending a stablecoin payment is like posting your bank statement on a public website. Every amount, every recipient, every balance is visible to everyone. This is a deal breaker for any serious business. We spent three years building the infrastructure that enables private transactions, and this funding allows us to make this available to more institutions and accelerate the mass adoption of stablecoin payments.”
Payy’s service is currently live in 120 countries with more than 100,000 users and processes approximately $130 million in annual transaction volume.
Payy is now expanding the same private transfers to serve financial institutions, Fintech platforms, and businesses looking to integrate stablecoin payments without exposing sensitive transaction data.
FirstMark Partner Adam Nelson says Payy addresses a glaring deficiency in the current stablecoin landscape by providing “financial system-level privacy for stablecoin spending without sacrificing usability.”
Payy was founded by Gandhi and Calum MooreCTO. Gandhi previously worked in engineering at Apple, where he developed privacy-related products.
Moore is a graduate of Y Combinator, where he founded a company working on large-scale data analysis systems.
