PEXX Raises US$4.5 Million to Revolutionize Cross-Border Payments
PEXX, a fintech startup specializing in cryptocurrency and blockchain technology, has secured US$4.5 million in seed funding. This investment will fuel the development of PEXX’s innovative stablecoin-to-fiat payment platform, aiming to simplify cross-border transfers.
Bridging the Gap Between Web3 and the Real World
The funding round was led by TNB Aura, with participation from Antler and EMO Capital, among other investors. This strong investor interest underscores confidence in PEXX’s potential to disrupt the traditional financial landscape.
PEXX’s platform allows users to seamlessly convert stablecoins like Tether (USDT) and Circle (USDC) directly into fiat currencies, facilitating swift and easy transfers to bank accounts globally. This eliminates the need for intermediaries and traditional bank accounts, making cross-border transactions more accessible and efficient.
Expanding Operations and Reaching New Users
The funding will be used to bolster PEXX’s engineering and product teams, as well as to expand its marketing and business development efforts, starting in Southeast Asia. EMO Capital will provide strategic support in Web3 marketing, branding, and partnerships, further accelerating PEXX’s growth.
A Secure and Compliant Platform
PEXX is registered with AUSTRAC, ensuring compliance with regulatory standards and fostering trust among users. This commitment to security and transparency differentiates PEXX in the evolving crypto landscape.
PEXX offers a user-friendly solution for individuals and businesses seeking to convert stablecoins into 16 different fiat currencies. The platform has already facilitated transactions worth close to US$3 million, demonstrating its growing adoption within the Web3 ecosystem.
Key Highlights:
- PEXX secures US$4.5 million in seed funding
- Focus on building a stablecoin-to-fiat payment platform
- Simplifies cross-border transfers without intermediaries
- Expands operations and user base in Southeast Asia
- Prioritizes security and compliance with AUSTRAC registration
- Supports conversions between stablecoins and 16 fiat currencies
PEXX’s innovative approach and strong backing position it to become a leading player in the burgeoning cross-border payments space. As stablecoins gain wider adoption, PEXX is poised to revolutionize how people and businesses transfer value across borders.
