Flexa provides a payment infrastructure that allows shoppers to pay with cryptocurrencies at retailers such as Nordstrom, Barnes & Noble, Express and Lowe’s through its SPEDN digital wallet. The network settles transactions in real time by using AMP, an ERC-20 collateral token that merchants and other partners stake to guarantee payment finality. Flexa is migrating holders of its original Flexacoin (FXC) to AMP on a 1:1 basis to support a new backend that introduces conditional staking and the transferByApproval function for more flexible collateral governance. The company positions itself as “merchant-first,” offering centralized software for retailers while gradually decentralizing the consumer wallet experience. To encourage third-party development, Flexa plans to release its software as an open-source SDK in January. Including its most recent token sale, the startup has raised a cumulative $20 million to date, giving it additional resources to scale merchant integrations and further decentralize its payments stack.

Total raised

$20M

Funding rounds

2

Latest round

Initial Coin Offering

Latest activity

Dec 2020