XanPool, a prominent fintech payments infrastructure builder, has secured $27 million in its Series A funding round to enhance its offerings. Valar Ventures led the latest investment round. Investors, including CMT Digital, and notable angel investor Taavet Hinrikus, Founder and Chairman of Wise, took part in the funding round. There has been an increased interest in cryptocurrencies from major institutions.
XanPool has over 500,000 users and more than 400 business partners.
XanPool is a payment and liquidity network, but instead of a closed network, the company’s open C2C network is made out of individuals and businesses whose idle capital is used to settle cross-currency and cryptocurrency transactions. According to XanPool, the company has over 500,000 users and more than 400 business partners. The fintech payments infrastructure builder is planning to consolidate its presence in the Asia Pacific region through the recent investment. The fintech firm is trying to reduce the risks and costs and associated with financial transactions.
“Our C2C network has since grown into Asia’s largest decentralized liquidity pool.”
“XanPool started as a small software innovation in the Peer-to-Peer technology space, allowing users to settle their cryptocurrency to local-currencies within seconds without taking custody risk. Our C2C network has since grown into Asia’s largest decentralized liquidity pool with over US$200 million of liquidity,” Jeffery Liu, Chief Executive Officer at XanPool, stated. “Today, the network is not only used by cryptocurrency users but also hundreds of underserved businesses that traditional payment processors cannot service due to risk or cost factors which the XanPool network does not have,” the CEO added. The financial technology sector in Asian countries is booming. Due to growing crypto adoption, payments startups in the region attracted record funding during the first six months of 2021.