Home Payment processors XanPool Acquires $ 27 Million to Consolidate APAC Presence, Expand Products and Business Operations

XanPool Acquires $ 27 Million to Consolidate APAC Presence, Expand Products and Business Operations

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XanPool, a payment infrastructure developer that operates in more than 13 countries in the Asia-Pacific region, has acquired $ 27 million in capital through a Series A funding round led by Valar Ventures, as well as contributions from investors such as CMT Digital, as well as angel investors Taavet Hinrikus (Founder and President of Fintech cross-border payments Wise).

James fitzgerald from Valar Ventures said:

“It’s impressive to see how XanPool has capitalized on the adoption of cryptocurrency to build a decentralized payments network powered by this new asset class. This space is changing rapidly; incumbents won’t know what hit them.

XanPool is a payment and liquidity network.

Similar to Mastercard or Visa, but instead of a closed network of banks as partners, XanPool’s open C2C network is “made up of individuals and businesses, whose idle capital is used to settle cross-currency transactions. and cryptocurrencies, ”the announcement explained.

By doing this, XanPool “reduces the counterparty risk and costs associated with these forms of transfers, while allowing liquidity providers to individuals and businesses to earn commissions of up to 2% per month on their inactive capital.” , note the update.

With over 500,000 users and over 400 business partners. XanPool is focused on consolidating its presence in the APAC area and expanding its range of products and services.

Jeffery liu, CEO of XanPool, said:

“XanPool started as a small software innovation in the Peer-to-Peer technology space, allowing users to settle their cryptocurrency in local currencies in seconds without taking on custody risk. Our C2C network has since grown into Asia’s largest decentralized liquidity pool with over US $ 200 million in liquidity. Today, the network is not only used by cryptocurrency users, but also by hundreds of underserved businesses that traditional payment processors cannot serve due to risk or cost factors that the XanPool network does not have.

Jeffery added:

“In the years to come, XanPool’s network will look more like that of the SWIFT network. Like SWIFT, XanPool itself does not hold liquidity, but relies on the liquidity of all participants using the network. Like SWIFT, XanPool collects fees based on the communication facilitated by its software. But unlike SWIFT, XanPool is compatible with modern payment solutions like cryptocurrency, fast payments, and e-wallets. You can expect more innovation from XanPool in this direction.

As previously stated, XanPool software allows anyone to support Crypto to Fiat on or off board. Instantly execute and settle transactions “without taking over customer funds”.

Their C2C software solution and their liquidity network “make the crypto integration and disconnection infrastructure much more user-friendly and resilient in the face of dependence on existing infrastructure (such as banking partners)”. They allow institutions and retail to be “on and off regardless of their infrastructural limitations”.

XanPool likens its collective technology to a “SWIFT-like network”, but instead of taking days or weeks to settle, XanPool, “using only more modern payment solutions with less overhead and risk, can settle similar transactions at a fraction of the cost, and much faster speeds, in seconds.

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