PEXX Secures $4.5 Million in Seed Funding to Revolutionize Cross-Border Payments
PEXX, a fintech startup focused on cryptocurrency and blockchain technology, has closed a $4.5 million seed funding round. This investment will fuel the development of PEXX’s innovative stablecoin-to-fiat payment platform, which aims to streamline cross-border transactions.
A Bridge Between Web3 and Traditional Finance
The funding round was led by TNB Aura, with participation from Antler and EMO Capital, as well as other strategic investors. PEXX’s platform allows users to convert stablecoins like Tether (USDT) and Circle (USDC) directly into fiat currency and transfer them to bank accounts globally. This eliminates the need for intermediaries and bank accounts, making cross-border payments faster, cheaper, and more accessible.
Expanding Reach and Building a Secure Platform
The funding will be used to grow PEXX’s engineering and product teams, expand its marketing and business development efforts, particularly in Southeast Asia, and enhance its Web3 marketing, branding, and strategic partnerships. PEXX has already achieved AUSTRAC registration, ensuring compliance with regulatory standards and fostering trust among users.
A Growing Need for Secure and Efficient Cross-Border Transfers
PEXX addresses a critical need in the B2B cross-border Web3 payments space. The company’s focus on simplifying transactions and bridging the gap between traditional finance and the world of cryptocurrencies is attracting significant attention from investors and users alike.
PEXX has already processed close to $3 million in transactions and is onboarded a diverse range of customers and businesses, including Web3 companies, exchanges, and media companies. The platform supports 16 different fiat currencies and enables direct transfers into bank accounts, offering a seamless and efficient alternative to traditional banking solutions.
