The Better Money Company raises $10M to build a stablecoin clearinghouse for traditional payments companies

Summary

Sam Broner's The Better Money Company has raised $10 million to build what he describes as an ACH equivalent for stablecoins — a clearinghouse that lets different stablecoins interoperate the way banks connect through the existing payments infrastructure.

The core problem Broner is solving is that moving between stablecoins today resembles selling Wells Fargo dollars to buy Bank of America dollars. That framing makes no sense to traditional payments companies, and the Better Money Company's pitch is a simple guarantee: one stablecoin equals one dollar, and you know when the money arrives. Neither of those things currently holds across most stablecoin offerings, which makes them operationally unusable for payments businesses that need predictability.

Regulatory tailwind

The GENIUS Act, passed in July 2025 with broad bipartisan support, is the legislative foundation Broner is building on. The rules specifying accounting treatment, compliance obligations, and reserve requirements are still being finalized, but Broner says the institutional response is already moving at an unusual pace — multiple RFPs for stablecoin projects every week, with large payments companies attempting to ship a new product on a new rail within seven months, a timeline he describes as breakneck for organizations of that size.

The company supports stablecoins that comply with the GENIUS Act and has partnerships with issuance platforms including Bridge, Braille, Agora, mZero, and Frax.

Who is buying

Broner's go-to-market spans two customer types that converge on the same platform. Large enterprises want stablecoins to simplify global treasury management or build new payment products — remittances, streaming payments, trade finance, agentic payments. Fast-moving fintechs want the same infrastructure for similar reasons. The clearinghouse model serves both, in the same way ACH serves JPMorgan and a regional savings bank simultaneously.

Broner draws a direct line to the playbook Airbnb, Shopify, and Square ran — companies that got progressively closer to the payment rails to improve product quality. Stablecoins are the next version of that move, but with lower engineering cost and broader applicability than the Durbin-exempt debit card workarounds that enabled instant payouts for gig platforms.

CBDC question

Broner worked on the Boston Fed's stablecoin initiative before spending three years as an investor at Andreessen Horowitz crypto. He's direct that the CBDC moment has likely passed — well-regulated private stablecoins are working, and the GENIUS Act is built around the Fed operating through institutions rather than issuing directly to consumers. The demand for a central-bank alternative to private stablecoins has dried up because the private version is already functioning.

Dollar demand

On macro risks to the whole thesis, Broner is blunt: no product in the world has more product-market fit than the dollar. He acknowledges the Tether gold purchase and broader dollar volatility but treats it as largely beside the point for now — people want dollars, and stablecoins are how they move them.

The company writes its own code but relies on regulated partners for compliance infrastructure rather than pursuing its own banking licenses, keeping the build focused on the clearinghouse layer.