Crypto-to-fiat infrastructure provider XanPool is reportedly making strides to widen its Asia-pacific footprints, obtaining financial support via fundraising.
Specifically, the startup from Hong Kong successfully secured $27 million via a Series A funding round, led by Valar Ventures, a venture capital company with PayPal co-creator Peter Thiel helped co-found.
Additional big names taking part in the funding round reportedly include crypto-centric venture capital entity CMT Digital, as well as angel investors, nominally TransferWise co-founder Taavet Hinrikus.
XanPool – currently having operations set up in 13 nations throughout the Asia-Pacific area – is reportedly having plans for widening the scope of its presence via new funding.
Jeffery Liu, Head of XanPool, reportedly revealed that the startup set up operations in India, Hong Kong, the Philippines, Singapore, Thailand, Indonesia, Australia, New Zealand, and Japan.
“In the coming quarter or two, we are primarily expanding our services into a few more APAC countries. As well as consolidating our hold in existing markets,” Liu further shared.
Since its introduction two years ago, the platform has reportedly managed to accumulate more than 500,000 users and 400 business partners, per the announcement.
“By the end of 2022, we aim to have grown our user base by 20x to 10 million users across the APAC”.
XanPool reportedly functions as a peer-to-peer crypto-to-fiat platform and liquidity network, dependent on the liquidity of its participants.