XREX has successfully closed a $17 million oversubscribed Pre-A funding round, aimed at expanding its crypto-fiat services to enhance financial inclusion in emerging markets.
Target Company Overview
XREX is a Taipei-based crypto-fiat FinTech startup founded in August 2018. The company aims to enhance financial inclusion by addressing the dollar liquidity shortage in emerging markets through blockchain technology. As a graduate of the AppWorks Accelerator program, XREX has built a strong reputation for innovation and compliance in the cryptocurrency space. Its team consists of experts in compliance, blockchain, and international finance, allowing XREX to provide effective solutions for cross-border SMEs facing challenges in accessing US dollar liquidity.
Recently, XREX successfully completed a $17 million Pre-A funding round, which was oversubscribed by 200%. This capital injection will facilitate the expansion of its fiat currency portfolio, the acquisition of additional operating licenses, and the establishment of partnerships with an increasing number of financial institutions and digital wallets.
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Industry Overview
The FinTech industry in Taiwan has been experiencing significant growth, driven by an increasing demand for digital financial services and innovations that address long-standing obstacles in trad
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Disclosed details
Transaction Size: $17M