Code & State Raises $3M to Accelerate Stablecoin Innovation from Dubai

• Code & State, a Dubai-based startup studio, secures $3 million in funding to incubate real-world stablecoin ventures.

• The program will provide capital, infrastructure, and expert mentorship for UAE-based founders.

• Global stablecoin transaction volume surpassed $15 trillion in 2024, outpacing Visa and highlighting the sector’s rapid growth.

Dubai-based startup studio Code & State has announced the successful raise of $3 million in a strategic funding round backed by Warburg Serres and KR1. The funds will be used to incubate and accelerate startups focused on expanding the real-world use of stablecoins, a fast-growing segment in the global fintech landscape.

With this investment, Code & State aims to provide capital, hands-on mentorship, and infrastructure to entrepreneurs tackling key challenges in the stablecoin ecosystem — from payment systems and cross-border remittances to compliance and transactional security.

The move comes as global stablecoin transaction volumes surpassed $15 trillion in 2024, outpacing annual Visa payments, and highlighting the increasing adoption of stablecoins in cross-border payments, day-to-day transactions, and decentralized finance (DeFi).

The studio is currently seeking UAE-based founders to join its program and build new ventures around stablecoin use cases. Selected founders will gain access to funding, operational support, and a robust network of investors and industry experts.

The startup program is designed to fast-track ideas from concept to market-ready solutions, increasing the odds of success for early-stage ventures in the Web3 and fintech space.

Code & State was founded by Cedric Waldburger, an early investor in Liquity and a seasoned entrepreneur with deep experience in the crypto space. Waldburger believes stablecoins are a foundational force in the future of global finance. He stated:

“We believe the total market cap for stablecoins will grow 10x over the next five years, surpassing $1.5 trillion. The potential is massive.”

With this funding, Code & State is positioning itself as a catalyst for the next wave of stablecoin innovation — helping build the infrastructure and solutions that will redefine digital payments globally.