Pact Labs just landed $7 million in Series A funding led by Tether, and the money has a very specific job: build the pipes that connect a regulated stablecoin to the mundane but massive world of payroll and payments.
The round, announced on July 14, is designed to accelerate Pact Labs’ integration of USA₮, Tether’s US-regulated dollar-backed stablecoin, into a broader suite of financial tools. Think earned wage access, credit products, and payment rails, all running on the Aptos blockchain.
What Pact Labs actually does
Pact Labs operates the PACT Protocol, an on-chain lending and securitization platform that takes traditional lending processes, like issuing a loan and then packaging that loan for investors, and runs them on a blockchain instead of through legacy banking software.
PACT Protocol has facilitated nearly $2 billion in on-chain loans, serving roughly 500,000 users through seven fintech partners.
