Blockchange Ventures, Coinbase Ventures, Compound VC, and Primitive Ventures back Cycles' mission to clear the most debt, for the most people, with the least money moved.
TORONTO, May 21, 2026 /PRNewswire/ -- Cycles, a startup building an open, privacy-preserving clearing network for crypto markets and stablecoin payments, announced today it has raised $6.4 million in funding led by Blockchange Ventures, with participation from Coinbase Ventures, Compound VC, Primitive Ventures, and angels. The round brings Cycles' total funding to $8.7 million, following a $2.3 million pre-seed in 2025. This funding will accelerate the development and rollout of the Cycles clearing network and scaling of the first products built on top, including its first institutional product, Cycles Prime, which enables trading firms to net OTC obligations privately across the network, reducing liquidity requirements and counterparty exposure without requiring collateral, the movement of assets, or any change in counterparties. Cycles Prime is launching with Lynq and FalconX as anchor partners.
Traditional financial institutions use clearing systems to reduce the amount of money that needs to move between counterparties. Instead of every firm sending full payments back and forth, clearing offsets obligations so that only the net difference needs to move. Crypto markets largely operate without this infrastructure today, creating liquidity bottlenecks, higher counterparty risk, and settlement inefficiencies across billions in daily trading volume.
