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- PEXX Secures $4.5M Seed Funding
PEXX Secures $4.5M Seed Funding
PEXX, a Singapore-based fintech startup, has successfully raised $4.5 million in seed funding.
Funding Details: PEXX secured $4.5 million in seed funding, led by TNB Aura with contributions from Antler and EMO Capital.
Platform Development: The funds will advance PEXX's innovative stablecoin-to-fiat payment platform, enabling users to convert USDT and USDC directly to bank accounts.
Regulatory Compliance: PEXX obtained AUSTRAC registration in May 2024, ensuring adherence to regulatory standards as an independent remittance dealer and digital currency exchange provider.
Leadership Insight: CEO Marcus Lim expects growing demand for converting stablecoins to fiat as they become more common.
With this significant funding, PEXX is set to revolutionize global money transfers, offering seamless and efficient stablecoin-to-fiat conversions that cater to the needs of modern businesses and individuals.