Dubai-based Code & State, a stablecoin innovation studio, has secured $3 million in funding to support the next wave of stablecoin startups.
The investment, backed by Warburg Serres and KR1 plc, will be used to incubate projects focused on expanding real-world adoption of stablecoins.
The studio will provide startups with capital, mentorship, and infrastructure to address key challenges in the stablecoin sector, including payments, cross-border transactions, compliance, and security.
This comes as the stablecoin industry experiences rapid growth, with global transaction volumes surpassing $15 trillion in 2024—exceeding Visa’s annual payment volume.
Code & State is currently seeking UAE-based founders to develop new stablecoin projects.
Selected founders will receive funding, hands-on support, and access to a network of investors and industry experts.
The studio was founded by Cedric Waldburger, co-founder of Liquity, who predicts the stablecoin market cap could grow 10x in the next five years.
