Forex settlement company XFX completes $17 million Series A financing, plans fiat and stablecoin forex settlement

March 26th News, according to Fortune, foreign exchange settlement startup XFX announced the completion of a $17 million Series A financing, led by Castle Island Ventures, with participation from Haun Ventures and Coinbase Ventures. Previously, its seed round financing was $9 million. XFX was co-founded by three former Bitso employees and is headquartered in Miami. It focuses on providing high-speed foreign exchange and payment infrastructure between fiat currencies and stablecoins for institutional clients. Currently, it supports USD, Mexican Peso, and Colombian Peso, as well as various stablecoin exchanges, focusing on deep liquidity for a few currency pairs. The company plans to use the new funds to expand its quantitative team and strengthen cooperation with trading desks and banks.