Former Payments Executives Target Mainstream Adoption
As stablecoins gain traction in the broader financial system, two former credit card executives are betting the technology has yet to reach everyday consumers. Aaron Marks and Joseph Hayes have launched Rhythmic, a startup aimed at embedding stablecoin infrastructure directly into consumer brands’ financial products.
On Thursday, the company announced it raised $4 million in seed funding led by Dragonfly, with participation from Mirana Ventures, The Fintech Fund and other investors. Marks, Rhythmic’s co-founder and CEO, declined to disclose the company’s valuation.
The founders argue that stablecoins remain largely concentrated among crypto-native users and individuals in emerging markets. Rhythmic’s approach is to bring the technology into familiar environments by partnering with established brands.
“We are giving everyday users the power of stablecoins through brands that they already know and trust,” said Hayes, the company’s co-founder and chief product and technology officer. He added that the goal is to embed stablecoin-based financial services into widely used consumer ecosystems.
Rewards, Payments and Stored Value Accounts
Rhythmic plans to collaborate with medium and large consumer-facing companies to build integrated financial products that include stored balances, payments and rewards programs. The company envisions brands offering features similar to the Starbucks loyalty program or Walmart’s OnePay credit card, but with lower operational complexity and costs.
Under the model, users would deposit funds into a stored-value account embedded within a brand’s ecosystem. Customers would receive a co-branded Visa card and earn rewards through their spending. Stablecoins would operate behind the scenes to facilitate money movement and settlement, though users may not directly interact with the underlying crypto infrastructure.
The company did not name specific brand partners but said it is actively targeting mid-sized and large firms with established customer bases.
Blending Payments Experience With Crypto Infrastructure
Marks and Hayes bring experience from both traditional payments and digital assets. Marks previously worked at American Express for more than five years before joining Circle, a major stablecoin issuer. Hayes spent over eight years at Mastercard and later led crypto and stablecoin product initiatives at Walmart.
The founders believe this mix of payments expertise and crypto product development positions them to design stablecoin-powered services that feel familiar and accessible to mainstream users.
Rhythmic aims to launch its platform by midyear. The startup currently has no revenue and until recently operated with just three employees. It plans to expand to roughly six employees by the end of the month.
The new funding will support product development, hiring and investment in regulatory compliance as the company prepares to scale.