The groundbreaking fintech company PEXX, which specialises in blockchain technology and cryptocurrencies, revealed today that its $4.5 million seed investment round was successfully closed.
This sizeable investment will accelerate the development of the business’ ground-breaking stablecoin-to-fiat payment infrastructure, which is poised to completely transform international money transfers.
The funding consisted of a single round headed by TNB Aura, in which Antler, a worldwide early-stage venture capital firm, participated. Additionally, EMO Capital, early supporters of Filecoin, and other prominent VC and crypto investors made strategic investments, underscoring the strong investor trust in PEXX’s potential and ambition.
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Through PEXX’s payment mechanism, holders of stablecoins from Circle (USDC) and Tether (USDT) can move their funds straight to a bank account anywhere in the world. With the use of this platform, people and companies will be able to easily move money across borders without the use of middlemen or bank accounts.
“We’re thrilled to have secured this significant funding, which will enable us to further develop our stablecoin-to-fiat payment platform,” said Marcus Lim, CEO and founder of PEXX</. "The growth for stablecoins is exponential and we expect to see the demand from users who want to convert their USDT and USDC directly to a bank account to grow accordingly as stablecoins become more ubiquitous over the coming years."
The company plans to use the financing to grow its marketing and business development operations, initially in Southeast Asia, and to strengthen its technical and product teams.
A key player in PEXX’s business growth, scalability, and user acquisition, EMO Capital is a research-driven investment player that will also provide funds and help PEXX in its Web3 marketing, branding, and strategic alliance initiatives.
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PEXX’s AUSTRAC registration guarantees compliance with regulatory requirements, enabling PEXX to function as a stand-alone digital currency exchange and remittance dealer. This accomplishment demonstrates PEXX’s dedication to strict compliance, strong security protocols, and building client trust.
Company provides a smooth way for individuals and companies to exchange stablecoins (USDT and USDC) into sixteen different fiat currencies. With company customers may send money directly into bank accounts, saving days of work compared to traditional banking alternatives. This simplifies the process of converting cryptocurrency to fiat. The platform has onboarded clients and enterprises ranging from Web3 companies, exchanges, and media corporations, and has transacted close to US$3,000,000 to far.
About PEXX
PEXX is a cutting-edge cross-border stablecoin payment network that makes international money transactions easier. They makes it possible for consumers and companies to off-ramp stablecoins like USDT and USDC to fiat in 16 currencies straight into bank accounts by providing safe, quick, and affordable options.
