PEXX, a stablecoin cross-border payment platform, aims to offer USDT and USDC conversions for 16 different fiat currencies.
Cryptocurrency fintech startup PEXX recently announced its successful closure of a $4.5M seed funding, which will be used to develop the company’s stablecoin-
to-fiat payment platform, which seeks to change the way people transfer currencies across borders.
PEXX’s payment platform allows users holding stablecoins from Tether (USDT) and Circle (USDC) to transfer their assets directly to a bank account globally. This platform will enable individuals and businesses to transfer value across borders with ease, without the need for intermediaries or bank accounts.
Marcus Lim, CEO and founder of PEXX, said:” 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 funding saw participation from global early-stage VC, Antler, plus further strategic investment from EMO Capital, who were early backers of Filecoin.
In addition to funding, EMO Capital, a research-driven investment player, will look to support PEXX in its Web3 marketing, branding, and strategic partnership efforts and play a pivotal role in their business expansion, scaling , and user acquisition.
Angelina Tu, co-founder at EMO Capital said, “While many are building to bring traditional Internet users into the Web3 world, PEXX is building a compliant, respected, and protected bridge between the Web3 world and the real world, giving everyone a swift and easy access to converting their digital assets into their everyday purchases. This is what everyone in the Web3 world needs and where PEXX finds EMO’s staunch support.”
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