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0.000527437069518265 -0.000207044904544227 7.23933232671482E-05 0.000537778972842143 -0.000558462779490017 -0.00217179969801645 -0.00304072641528947 0.00129273791548597
Stock impact report

Foreign exchange startup XFX raises $17 million to help businesses go between cash and stablecoins [Yahoo! Finance]

Mastercard Incorporated (MA) 
Last mastercard incorporated earnings: 4/29 08:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
But, at large enough scales and high enough speeds, transactions can get complicated, especially if businesses trade in the dollar-pegged digital tokens known as stablecoins. The Miami-headquartered startup XFX aims to make the foreign exchange process more efficient—for fiat and stablecoins—and has drummed up $17 million in a Series A fundraise, the company announced Thursday. The crypto investor Castle Island Ventures, which has carved out a niche in making stablecoin bets, led the round. Other participants include Haun Ventures and Coinbase Ventures, both of which invested in XFX's $9 million seed round. Santiago Alvarado, cofounder and CEO of XFX, declined to specify at what valuation his startup raised its most recent stash of capital. “They're building FX [foreign exchange] and payment infrastructure that matches the speed of stablecoins,” Chris Ahn, a partner at Haun Ventures, told Fortune Fiat to stablecoins Stablecoins are one of the hottest sectors in fintech. Propon Show less Read more
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