PEXX Secures $4.5 Million Seed Funding for its Stablecoin-to-Fiat Platform
PEXX, a fintech startup specializing in cryptocurrency and blockchain technology, has just closed a $4.5 million seed funding round. This funding will help PEXX develop its innovative stablecoin-to-fiat payment platform, which aims to make transferring money across borders easier and faster.
What is PEXX?
PEXX allows users to transfer their stablecoins (USDT and USDC) directly to bank accounts globally. This means that individuals and businesses can send money across borders without the need for intermediaries or bank accounts.
Why is this important?
The demand for stablecoins is growing rapidly, and PEXX is well-positioned to capitalize on this trend. PEXX’s platform offers a seamless solution for users and businesses to convert stablecoins into 16 different fiat currencies. This makes it a valuable tool for anyone who needs to send or receive money internationally.
Who is behind PEXX?
The funding round was led by TNB Aura, with participation from Antler, EMO Capital, and other notable investors. This strong investor interest is a testament to the potential of PEXX’s platform.
What’s next for PEXX?
The funding will be used to expand PEXX’s engineering and product teams, as well as to grow its marketing and business development efforts, starting in Southeast Asia. EMO Capital will also be supporting PEXX’s Web3 marketing, branding, and strategic partnership efforts.
PEXX’s focus on compliance and security has resulted in AUSTRAC registration, ensuring that PEXX adheres to regulatory standards and operates as an independent remittance dealer and digital currency exchange provider.
PEXX is a promising platform that has the potential to revolutionize the way people transfer money across borders. The company’s focus on compliance, security, and user experience makes it a strong contender in the growing stablecoin-to-fiat market.
