XanPool secured US $27 million to consolidate its presence in APAC and expand service offerings
Friday, October 22, 2021
(Press Release) – XanPool, a payments infrastructure builder, that operates in over 13 countries in the Asia Pacific, has raised US$27 Million in a Series A financing round led by Valar Ventures, alongside investors such as CMT Digital, and notable angel investor Taavet Hinrikus (Founder and Chairman of Wise, formerly Transferwise).
XanPool is a Payments and Liquidity Network. Similar to Mastercard or Visa, but instead of having a closed network of banks as partners, XanPool’s open C2C network is made out of individuals and businesses, whose idle capital is used to settle cross-currency, and cryptocurrency transactions. By doing this, XanPool reduces the counterparty risk and costs associated with these forms of transfers, while also allowing the individual and business liquidity providers to earn fees of up to 2% a month on their idle capital.
With over 500,000 users, and over 400 business partners. XanPool is looking to consolidate its presence in the Asia Pacific region, and expand its product offerings.
Commenting on XanPool’s ongoing momentum, Jeffery Liu, Chief Executive Officer at XanPool, states, “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. 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.“
