Xanpool is a cross-border payments infrastructure firm based in Hong Kong. Its core product is infrastructure to enable cross-border payments. The company secured $41 million in a funding round. The funding is intended to increase its global footprint. The round was led by London-based Target Global, a pan-European VC with over €3 billion ($3.1 billion) of assets under management. The article did not disclose additional operating metrics or other participating investors. XanPool provides software that enables a non-custodial C2C network of liquidity providers — including crypto funds, money service operators and businesses — to settle cross-currency and cryptocurrency transactions without XanPool holding funds. The platform routes fiat and crypto settlements via local liquidity peers, reducing counterparty risk and avoiding credit or late settlements. Its network claims over $200 million of liquidity and more than 400 companies integrate XanPool into their apps. The service is live across 12 APAC countries and currently serves roughly 500,000 users, with a stated goal of growing to 10 million users by the end of 2022. Liquidity providers on the network can earn fees of up to 2% a month. XanPool plans to consolidate its presence across APAC and continue offering its infrastructure to third-party exchanges, wallets and decentralized apps rather than launching its own consumer app; the company has said it aspires to be akin to SWIFT for crypto and fast-payment services. XanPool offers C2C software and APIs that enable instant, custody-free settlement of crypto-to-fiat trades by plugging local bank accounts and e-wallets into its network. Its integrations include local payment rails such as Hong Kong FPS, Pakistan IBFT, and the Philippines InstaPay. The platform connects to a network of over 500 liquidity providers across the Asia Pacific region and reported more than 75,000 transacting users in over eight Southeast Asian countries. XanPool emphasizes instant settlement in seconds rather than hours or days, without taking custody of customer funds. The company says its architecture can be applied to cross-border and merchant payments to cut intermediaries and speed settlement. Management has announced plans to expand into Pakistan, Bangladesh, Russia, Japan, Korea, Australia, and New Zealand in the coming two quarters.

Total raised

$72M

Funding rounds

3

Latest round

Equity

Latest activity

Nov 2022