PEXX operates a stablecoin-to-fiat payment platform that enables users and businesses to off-ramp USDT and USDC directly into bank accounts in 16 fiat currencies. The platform is designed to shorten crypto-to-fiat transfers to minutes versus days with traditional banking rails. PEXX reports the platform has transacted close to US$3,000,000 and onboarded customers including Web3 companies, exchanges, and media firms. The company obtained AUSTRAC registration in May 2024, allowing it to operate as an independent remittance dealer and digital currency exchange provider and signalling a focus on compliance and security. PEXX plans to use the new funding to bolster engineering and product teams and to expand marketing and business development efforts, beginning in Southeast Asia. EMO Capital will additionally support PEXX on Web3 marketing, branding, strategic partnerships, scaling, and user acquisition.

Total raised

$5M

Funding rounds

1

Latest round

Seed

Latest activity

Jul 2024