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XFX Secures $17 Million in Series A Funding Led by Castle Island Ventures
On March 26, according to Fortune, XFX, a foreign exchange trading startup supporting stablecoin transactions, announced the completion of a $17 million Series A funding round. The round was led by Castle Island Ventures, with participation from Haun Ventures and Coinbase Ventures. The funding aims to improve the efficiency of foreign exchange conversions between fiat currencies and stablecoins. XFX Co-founder and CEO Santiago Alvarado declined to disclose the company’s valuation for this funding round. It is understood that XFX currently allows customers to exchange not only between stablecoins but also between fiat currencies such as the US dollar, Mexican peso, and Colombian peso.