XanPool Concludes US$4.3 Million Series Pre-A Financing

XanPool Concludes US$4.3 Million Series Pre-A Financing

Accelerates Expansion Plans Into Asia, and Onboards ex-SWIFT Executive Into Team. XanPool Concludes US$4.3 Million Series Pre-A Financing Jeffery Liu, CEO, on Left, and Artem Ibragimov, CTO, on rightHONG KONG, Sept. 11, 2020 (GLOBE NEWSWIRE) — Hong Kong-based fintech startup XanPool (the "Company Cryptocurrencies latest news and history organized by date that contains 1000000+ news archives. Click here to read what world was saying about cryptocurrencies. Cryptocurrencies latest news and history organized by date that contains 1000000+ news archives. Click here to read what world was saying about cryptocurrencies.

Accelerates Expansion Plans Into Asia, and Onboards ex-SWIFT Executive Into Team.

Jeffery Liu, CEO, on Left, and Artem Ibragimov, CTO, on right

HONG KONG, Sept. 11, 2020 (GLOBE NEWSWIRE) — Hong Kong-based fintech startup XanPool (the “Company”) is pleased to announce it has raised US$4.3 million in a Pre-A financing round led by blockchain technology and service provider OK Group, alongside Hashkey and Gumi Cryptos, to spearhead its infrastructure expansion into the eastern hemisphere.

XanPool’s payment infrastructure allows instant processing of traditional and cryptocurrencies without custody risk. Conventional crypto exchanges require long waiting times – several hours to days – to clear deposits and withdrawals. Several high-profile exit scams in the space have led users to be wary of keeping substantial amounts of crypto-currency on an exchange.

XanPool C2C software enables users to settles their crypto-currency to local-currency trades in seconds instead of hours, without taking custody of customer funds throughout the entire process. This is done by having users run the Company’s custom APIs, which are built into local payment solutions such as FPS in Hong Kong, IBFT in Pakistan, and InstaPay in the Philippines.

Essentially, the C2C technology allows individuals and businesses to participate in their marketing-making of cryptocurrencies and local currency; by “plugging” their financial infrastructure (such as bank accounts and e-wallets) into the XanPool network. They will then join an extensive C2C network of over 500 liquidity providers across the Asia Pacific region.

The Company currently has over 75,000 transacting users in over 8 South East Asian countries, and has plans to expand into Pakistan, Bangladesh, Russia, Japan, Korea, Australia, and New Zealand in the coming two quarters.

Commenting on the successful funding round, Estrella Du, a representative from OK Group’s Investment Department, said: “The Eastern Hemisphere has seen massive adoption of digital payments; we think XanPool’s first-principles reconsideration of crypto on and offboarding infrastructure can drive massive efficiency in the Asian ecosystem. OK Group is excited to partner with XanPool in building the next generation payment infrastructure.”

Jeffery Liu, Chief Executive Officer at XanPool, said, “Our aim is to build the most affordable infrastructure for the processing of cryptocurrency, and routing of local currency; the money raised will allow us to expand beyond Southeast Asia and reach out to a wider group of users on the Eastern Hemisphere.”

Mr Liu noted that XanPool’s architecture could have applications in cross-border payments: “Besides our geographical expansion, one of the focus areas for our next few quarters will be in the traditional-online merchant payment space. Merchants in Asia are encumbered by legacy payments routing institutions, intermediaries, and infrastructure. However, cryptocurrencies can enable instant, peer-to-peer cross-border routing and settlement, cutting out a lot of the middle man. Imagine a Pakistan merchant accepting Hong Kong dollars with FPS and receiving Rupees through IBFT within a few minutes.” 

Daniel De Weyer, former Global Director at SWIFT, after having worked for over 20 years at SWIFT, has also joined the XanPool team as a Director. As such, Daniel will assist in and lead some of XanPool’s geographic, and product expansion effort westwards.

Jeffery Liu, Chief Executive Officer at XanPool, is available for interviews.

About XanPool

XanPool software allows anyone to seamlessly enable Crypto to Fiat on or offboarding. 

Instantly executing and settling transactions without taking custody of customer funds. Our unique C2C software solution and liquidity network makes the onboarding and offboarding infrastructure in crypto much more user friendly, and resilient against single existing infrastructure dependency (such as over-reliance on banking partners). We allow institutions and retail to on and off board regardless of their infrastructural limitations.

XanPool analogizes 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 with a fraction of the cost, and speeds which are magnitudes faster, within seconds.

Media contact

Name: Fred Tan

Title: Marketing & PR Manager

Email: Fred@XanPool.com & Support@XanPool.com

Phone: +852 5334 3110 (Whatsapp Only)

Source: news.yahoo.com

Author: XanPool


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  • French Central Bank Chief Eyes Public-Private Partnership for Possible Digital Euro
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  • Securities Daily: Covid-19 Prevention And Control Work Forced the Rapid Development of Blockchain Technology
  • NZDUSD: Key Levels and Patterns to Watch
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  • Square Forms Group to Stop Patent Trolls From Hindering Crypto Innovation
  • Bitcoin Back In Range After Dipping Under $10k – Where Are The Bulls Headed?
  • XRP Price & Technical Analysis: XRP Stuck In a Flat
  • Acala Network, Polkadot’s MakerDAO, Comes to Ethereum
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  • Top Binance Trader Thinks This Comes Next for the Bitcoin Market
  • This Fractal Predicts Bitcoin Will Return to $11,000 Very Soon
  • To list or not to list, Part 1: Binance should not have listed SUSHI
  • Crypto Analyst: Bitcoin (BTC) Could Experience 30-day Gains of 20-40%
  • Tesla stock TSLA chart resembles Bitcoin bubble in 2017, says analyst
  • DeFi Networks Still in Boom With Locked BTC Increase By 20X
  • Pomp launches new venture fund, says ‘You’ll never regret betting on yourself’
  • Bittrex exchange terminates service in 7 countries
  • More than 20,000 Bitcoin was poured into DeFi last week
  • Judge Dismisses $200M Damages Claim in SIM-Swap Crypto Lawsuit Against AT&T
  • Bitcoin might just stay clear of the $9600 CME Gap
  • DeFi Swap Goes Live on Ethereum Mainnet Today
  • Giant Bitcoin adverts spotted near HSBC bank
  • Breaking: SUSHI Lead Developer Returns $14 Million Worth of ETH
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  • Ethereum price is fragile, will bulls sustain $360?
  • Yearn.finance YFI soars to $33K after Coinbase listing — is $40K next?
  • Ethereum 2.0 is coming, unlikely to speed up enterprise DeFi adoption
  • Binance to Assist in Recovering Crypto Stolen From Crypto Exchange ETERBASE
  • Crypto Price Analysis & Overview September 11th: Bitcoin, Ethereum, Ripple, Cardano, and Chainlink
  • European Ministers Call on EU Commission to Regulate Stablecoins
  • ERC 20 topples Ethereum market cap
  • Swiss parliament amends laws to strengthen regulatory framework and promote crypto
  • Crypto.com Follows Binance With Launch of Liquid Swap DeFi Product
  • Bitcoin ads displayed outside banks in Hong Kong, in effort to spread BTC awareness
  • IRS Will Pay $625,000 to Anyone Who Can Crack Monero, While Binance Offers $100,000,000 to Coders Building on DeFi
  • IOTA, VeChain, Chainlink Price Analysis: 11 September
  • To list or not to list, Part 2: Binance listing SUSHI was no big deal

Source: www.feedthecoin.com


XanPool Concludes US$4.3 Million Series Pre-A Financing


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