PEXX Blockchain Technologies, a cryptocurrency company, says its initial investment round of $4.5 million was successfully closed. This sizable 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 fundraising round, headed by TNB Aura and featuring participation from worldwide early-stage VC Antler, demonstrated strong investor faith in PEXX Blockchain Technologies vision and potential. Additionally, EMO Capital, early Filecoin supporters, and other significant VC and crypto investors made strategic investments.
Through PEXX’s payment mechanism, holders of stablecoins from Circle (USDC) and Tether (USDT) may 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 stable-coin-to-fiat payment platform,” said Marcus Lim, CEO and founder of PEXX. “
PEXX Blockchain Technologies Marketing and Business Development Operations
The company plans to utilize the financing to grow its marketing and business development operations, initially in Southeast Asia, and to strengthen its technical and product teams. Along with providing cash, research-driven investment firm EMO Capital will help PEXX with its Web3 marketing, branding, and strategic relationship initiatives. It will also be a key participant in the company’s user acquisition, growth, and scalability.
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PEXX Blockchain Technologies plans to utilize the financing to grow its marketing and business development operations, initially in Southeast Asia, and to strengthen its technical and product teams.
Along with providing cash, research-driven investment firm EMO Capital will help PEXX with its Web3 marketing, branding, and strategic relationship initiatives. It will also be a key participant in the company’s user acquisition, growth, and scalability.
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 everyday purchases. This is what everyone in the Web3 world needs and where PEXX finds EMO’s staunch support.”
Vicknesh R, Partner at Tnb Aura said, “Pexx addresses a critical need in the b2b cross-border web3 payments space. With Marcus at the helm, we are excited to support their journey in transforming the financial landscape,” said Vicknesh R. Pillay, founding partner of Tnb Aura.
“We are excited to back Pexx as they build a transformative platform that bridges the gap between stablecoins and traditional banking. their approach to simplifying cross-border payments align perfectly with our vision of fostering innovative fintech solutions,” said Jussi Salovaara, Co-Founder and managing partner at Antler.
Acquired in May 2024, PEXX Blockchain Technologies 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 confidence.
PEXX Blockchain Technologies provides a smooth way for individuals and companies to exchange stablecoins (USDT and USDC) into sixteen different fiat currencies. With PEXX Blockchain Technologies, customers may deposit money directly into bank accounts, saving days of work compared to traditional banking alternatives. This simplifies the process of converting cryptocurrency to cash. The platform has onboarded clients and enterprises ranging from Web3 firms, exchanges, and media corporations, and has transacted close to US$3,000,000 so far. The BIT Journal provides updated information on the current events that blanket the crypto industry
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