Former a16z crypto investor raises $10 million to establish stablecoin clearinghouse Better Money

Former a16z crypto investor Sam Broner announced the co-founding of The Better Money Company with his college friend Adam Zuckerman, completing a $10 million seed round financing, led by a16z crypto, with participation from BoxGroup and Sunflower Capital, and angel investors including Circle co-founder Sean Neville and former Microsoft executive Charlie Songhurst.

The company aims to establish a stablecoin clearinghouse, providing customers with low-cost services to exchange different dollar-pegged tokens. Broner previously worked at a16z crypto for over two years, focusing on investments in the stablecoin sector. Zuckerman worked at Latham & Watkins law firm and later served as General Counsel at Eigen Labs. The two founded the company last November and have since secured commitments from several issuers, including Paxos, Bridge under Stripe, and MoonPay, planning to support all tokens compliant with the signed and effective Genius Act, excluding USDT, while its U.S. version USAT remains unaffected. The product has not yet been publicly launched and is expected to be available to customers in the coming weeks.